Chinese property buyers extremely savvy

Chinese property buyers extremely savvy

23 January 2012 by Stacey Moseley 0 comments

Chinese property buyers are some of the savviest an agent will deal with, a number of agents have said.

“I just think they are very good investors and tend to pick property in very good locations,”said Nick Begetis, of Begetis Estate Agents, based in the Sydney suburb of Burwood.

“In an attempt to bridge the gap between the language difference perspective Asian buyers tend to pick proprieties close to major shopping centers, public transport and schooling," he told Real Estate Business.

"They pick well in terms of investment.”

Mr Begetis' comments come at the same time a listings website aimed at the mainland China market reported solid interest from Australian agents.

According to a representative of Juwai.com, which was launched late last week, the website reported 250 beta (trial) customers by December 31 of last year, up from the 100 they expected to have by that date.

The company said thousands of interested buyers visit the website daily, most of which are based in cities located throughout China, as well as Singapore and Taiwan.

“Juwai.com expects to start offering agent branding and agent bio pages by March," the spokesperson added.

"These will give agents a more powerful way to tell Chinese buyers how they can help them, what sort of property they list and what sets them apart from other agents,” he said.

Mr Begetis said he uses a variety of techniques to communicate with the large Chinese buyer market in his territory.

“When it comes to targeting certain ethnic groups in our community, it is about knowing what they are looking for,” he told Real Estate Business.

“We advertise in select Asian papers within the inner west pocket of Sydney. We also utilize their websites which caters for Asian investors, which tends to work well.”

Shanghai-based real estate agent, Tiffany Braisby, said there are several reasons why Chinese buy Australian property, including sending their children to study, immigration and for investment purposes.

“The fourth [reason] is risk mitigation, which is a new and growing reason because many Chinese are concerned what the Chinese government may do over the next 20 years, and want to move their money out of China into a safer, secure offshore investment,” Ms Braisby said.

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