Anticipating an influx of foreign investors from both mainland China and Hong Kong, The Agency is launching a national China Desk service under the leadership of agent Linda Wu.
The move is in response to both local demand from the Australian Chinese community as well as expectations for future foreign demand for translation, negotiation and campaign assistance tailored to the Chinese market.
“For some time, I have felt the need to establish this important service to our agents,” The Agency’s Matt Lahood has said.
From Ms Wu’s perspective, the current interest in buying Australian properties from mainland China is significant — and it’s only expected to increase.
With the network already seeing buyers purchase sight unseen from China via Zoom, Ms Wu anticipates the investment trend to boom once travel restrictions lift.
“There is a lot of disposable income in China,” the agent said, noting that the country’s economy has fared well despite the pandemic.
But it’s not just mainland China that The Agency is expecting to draw new clients from through the China Desk, with Ms Wu also forecasting a new wave of migration of Hong Kong residents to Australian shores.
“After the civil chaos we saw in 2019 and the recent introduction of new security laws in Hong Kong by mainland China, there is enormous demand from Hong Kong residents to relocate to Australia,” Ms Wu stated.
Born in Hong Kong herself, Ms Wu explained that many second-generation Hong Kong migrants to Australia, who previously returned to Hong Kong for work, are now “wanting to bring the third generation back to Australia for schooling and to live”.
Mr Lahood has lauded Ms Wu as “an incredibly experienced agent with more than two decades in the business”.
As part of her role, Ms Wu will attend OFIs and listing presentations and be involved in conjunction on campaigns.
While Ms Wu is fluent in both Mandarin and Cantonese, it is purported that the new service “will go well beyond translation services”, drawing on the agent’s skillful negotiation and problem solving, as well as drawing on her status within the Australian Chinese community.