In its first quarterly report ever, the Foreign Investment Review Board (FIRB) has provided some very clear insights about Chinese investment into Australian residential real estate.
The most striking fact is that no single country invests more into our real estate industry than China.
In fact, between China and Hong Kong, they account for five times more money improved for investment than the next country on the list (which is Vietnam). Even America, which is the largest investor in the Australian economy by far, is not even in the top 10 on the list, according to the Property Tribune.
Those are some serious stats. They prove beyond doubt that when selling your property in Australia, it’s vital that you take Chinese buyers into consideration. This includes wealthy Australian-based Chinese buyers, as they will have strong links to China through their business contacts.
The Appeal of Australia
At The Henry Wong Team®, we’ve noticed that Chinese buyers often invest in property here as a gift to a family member, or to help set up their kids. Their sons or daughters might be coming here for university, so they buy a home for them to live in and use for their future here.
Multi award-winning business woman Monika Tu owns the real estate firm Black Diamondz. The majority of her buyers are wealthy Chinese citizens looking to invest into our residential real estate. What draws them to Australia?
“Australia is an attractive place to live because of the stable political environment, strong economy and good education,” Ms Tu says. “They come to Australia, not just here to retire, they come here to look for an international opportunity to invest or to work, and to grow or expand their business. Lifestyle is number one and then education.”
Improved Australia-Chinese Relations
China and Australia have enjoyed 50 years of bilateral relations, based on “shared interests and mutual respect, an approach which offers the best prospects to maximise shared economic interests.”
These relations have improved considerably recently, with high-level dialogue resuming since the last election. Foreign Minister Penny Wong has asserted Canberra intends to “develop a more stable and mutually beneficial relationship with China on the basis of mutual respect.” Wang Yi, China’s top diplomat has also said that the “common interests” of China and Australia “far outweigh the differences.”
This goodwill holds further promise that Chinese investment in the Australian real estate industry is only going to increase.
Chinese Real Estate Henry Wong
The Henry Wong Team® have built up a real estate business that successfully crosses the cultural divide between wealthy Chinese buyers and Australian sellers. We’re a bilingual team, and we understand and appreciate the differences (subtle and not so subtle) that exist between the two cultures. Most importantly of all, we know how to work around these differences.
Over the years we’ve built up a large database of buyers across China and Asia. We communicate with them regularly, developing a relationship of trust and respect. They know us well and they have confidence in our word. This has helped us successfully market and sell many listings to the Chinese buyer market.
All our marketing material is in both English and Mandarin, and we even have a fully manually translated Chinese version of our website. Every listing gets professional videography, photography and floorplans, ensuring buyers from around the world can appreciate the quality of the property on sale.
If you’d like to know more about how we can market your property to wealthy Chinese buyers, why not get in touch today? Henry will be happy to answer any questions you might have.