It can be pretty frustrating trying to buy Australian property in areas popular with the Chinese buyers. Sydney, Brisbane, and Melbourne are seeing Chinese money pouring into realestate with no sign of a slow down.
While there has been some public backlash and a crack down on agents skirting foreign investment rules, the boom is making some lucky Australian property owners rich. Whether your plan is to benefit from Chinese-driven capital gain, or simply to avoid areas where you are likely to be outbid, it helps to understand the demand factors.
Here are the top five things Chinese investors look for in Australia.
1. Close to top schools and universities
Asians value education highly and the Chinese are no exception. Not just any school or university will do. The presence of top schools or an elite university in a suburb will rank it highly. Wealthy Chinese are buying property for their children to enjoy while they study abroad.
2. Prestige and respectability
The Chinese buying in Australia are proud of their success and wealth. They want to own and live somewhere that reflects their status and taste. Established, leafy, highly respectable suburbs, and modern, luxury condominiums are the go. Don’t expect cashed up Chinese investors to be interested in helping to gentrify down-market suburbs.
3. Cultural fit
Every capital city in Australia now has suburbs with a high proportion of Chinese born and Chinese speaking residents. For example Chatswood, Sydney, Doncaster, Melbourne, Sunny Bank, Brisbane. In these areas shopping centres, restaurants and other amenities cater to the Chinese population.
4. Iconic views of Sydney Harbour
The hottest properties in Australia right now are mansions and luxury apartments with Sydney harbour views , ideally of the Opera House and Harbour Bridge.
If you are lucky enough to own such a property, you are likely to be receiving offers from Chinese buyers that are increasingly hard to refuse. But you might be crazy to sell.
5. Feng Shui
Good Feng Shui is important to many Chinese buyers. Aspect, position in the landscape and the number will be considered. The number four could be a deal breaker because it sounds like death in Cantonese. If a complex you are inspecting has no floors or unit numbers ending in four, you know who the target market is.
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