Chinese investors continue to spend abroad
Chinese investors are continuing to snap up Australian real estate, with recent activity described as "exceptional" by one industry professional.
Simon Lam, managing director of Window to China, a platform for individuals and organisations in Australia who want to sell their property to Asian investors, told Residential Property Manager's sister title Smart Property Investment that the buying activity this Chinese New Year in February was “exceptional”.
“We had seen an influx of Chinese investors purchase properties in Australia, which was fairly unusual,” he said.
However, with the recently introduced Significant Investor Visa program by the federal government, combined with the prediction of policy changes by the Chinese government, Mr Lam is not surprised that investors are increasingly looking overseas.
“Chinese investors might have figured out that parking their assets overseas would be the only channel for them to invest in property,” he said.
While Chinese investors have been snapping up properties across the board, there has been an influx of purchases in the $1.5 million-plus price range.
Mr Lam believes low interest rates coupled with an upward trend in Australian property prices will drive further growth.
“With the downtrend of local interest rate in the next six months, it will further stimulate people’s interest in property investment,” he said.
“Topped with the demand of investors residing both locally and overseas, I personally believe that property prices will be pushed up.”
The 2013 Chinese Sydney Property Expo, to be held by Window to China from 13-14 April at Sydney's Town Hall, is aimed to attract more investment to Australia.
According to Window to China, the Expo will be a ‘one-stop shop’ for Chinese investors residing both locally and overseas so that they are more informed and confident to make their investment decision.
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