If you’re selling a home in Brisbane or anywhere around Australia, you need a diversified sales and marketing strategy that caters to a wide group of buyers. The more buyers your real estate agent can get your listing in front of, the more chance you have of finding that perfect buyer willing to pay the price it’s worth.
There are several compelling reasons your real estate agent should have Chinese buyers as a significant component of their targeting strategy. Their substantial investment and long-term interest in the Australian property market underscores how important it is to include them. They’re an influential demographic, and today we want to look at some of the reasons why this is so and outline how The Henry Wong Team® attracts and engages Chinese buyers with each of our listings.
Why Your Agent Needs to Target Chinese Buyers
Chinese Buyers are the Biggest Foreign Real Estate Investors in Australia
This isn’t a new phenomenon – Chinese buyers have been a force in our market for many years. There was a dip over the Covid years, but once our borders reopened they came back stronger than ever. In the 2022-2023 financial year, they spent approximately $3.4 billion on residential properties, maintaining their dominance over other international buyers. To put it into perspective, Hong Kong was the next largest investor at $600-million. This isn’t likely to change either, with Australia firmly coming in as China’s favourite overseas destination to buy real estate.
Chinese Demand Has Continued Despite Legislation Changes
Worried that Chinese and other foreign investment into our real estate was inflating prices, the government introduced legislation to free up housing stock for Australian residents. Despite the regulatory changes and increased fees imposed by the Foreign Investment Review Board (FIRB), Chinese demand for Australian property still strongly endures. This is a definite sign it’s not going anywhere!
Chinese Represent the Largest Portion of Chinese Students
International students are a big part of our economy. In the year leading up to April 2024, there were 780,104 international student enrolments in Australian institutions. This is a 16% increase even on pre-Covid days. Of that number of students, 23.3% are from China. These are people investing in and positively contributing to our economy, many of whom wish to secure their future here. Purchasing real estate is a big step to help them do this.
The Australian Dollar Offers Chinese Investors Bang for Their Buck
The Australian economy is a stable powerhouse, making it an attractive option for Chinese investors seeking to diversify their portfolios. It’s not just that – compared to other international markets like the United States, the Australian dollar offers a favorable exchange rate. This gives them more bang for their buck when they choose to invest here over other international destinations.
How The Henry Wong Team® Targets Chinese Buyers
With a dual Chinese-Australian background, me and my team are perfectly positioned to understand the preferences and requirements of the powerful Chinese buyers demographic. Here’s why:
We Cross the Cultural Divide
We have one foot in China and one in Australia, enabling us to easily communicate and engage with both sides of the cultural divide. As a bilingual team, language barriers don’t hinder our sales process, and in fact helps build trust and loyalty with our buyers and sellers. We understand both the Chinese and the Australian context, and this assists us immeasurably in the negotiation process too.
Networking
We have a large and established network in China thanks to our family backgrounds and our history of dealing with buyers there. What sets us apart is we are actively working to grow that network every day. Networking is a huge part of our real estate strategy, and through it, we have a massive network in Brisbane, interstate, across Australia and overseas. In particular, affluent Chinese buyers.
We cultivate the relationships we have with our network members, so that when we list a property, they take note. If it doesn’t pique their interest, they will pass it on to someone in their network who it could interest. This helps us get exponential traction on every property we list, putting it in front of more sets of eyes than your average agent can achieve.
Get in Touch
To learn more about how the Henry Wong Team can assist you in navigating the Australian real estate market and targeting Chinese buyers, please get in touch. We’d love to help you achieve your real estate goals, and secure the price you deserve for your home. It’s all about moving onto the next stage in your life with ease… and we’re here to facilitate that!
