An Australian property group that targets mainland Chinese buyers says demand for residential property shows no sign of waning.
Ausin Group is a multi-service business set up five years ago to sell Australian property to mainland Chinese investors.
The business has sold more than $1 billion of residential Australian property to mainland Chinese investors over the past 12 months.
The company now employs a total of 320 staff, with 280 across China and 50 in Sydney and Melbourne.
Speaking to Real Estate Business, Ausin Group general manager Joseph Zaja said Chinese demand for Australian property is only getting stronger.
“From what I am hearing and seeing there are a lot of companies selling property in China and they have the opinion that it’s an easy market, but it isn’t,” Mr Zaja said. “It’s very competitive.
“The buyers demand an extremely high quality of property and level of service,” he said.
“We are expanding because we are providing them with a full suite of services. We are one of the only companies that can offer that.”
Increasing demand has led the group to expand into immigration services, mortgage broking and financial planning.
“We have over 100 sales staff,” Mr Zaja said. “So rather than just being a property marketing company we are a total service solution to the offshore market,” he said.
In the last year Ausin has written approximately $250 million in home loans. Next calendar year Mr Zaja said the company is on track to write $500 million.
“Because we sell a lot of off-the-plan properties and a lot of our projects that were sold two or three years ago are coming up to settlement, we have about 1,000-plus settlements for the next three years,” he said. “So we are gearing up to service our clients.”
Mr Zaja said the group’s sales rates are increasing, most of which require financing.
“We did over 200 sales in September and half of them were house and land packages,” he said.
“We service about 95 per cent of all of our purchases, so our conversion rate is very high.
“As long as we continue that sales rate and continue to offer a high quality standard of service, I hope things will continue.”