This week, Melbourne's sales market is especially busy. This is mainly because of the crowded Chinese investors, who found particular interest in houses located on the outskirts of the city and in suburbs near the universities. The reason is very simple, these location is the best apartment for rent in Melbourne.
The Chinese Lunar New Year will bring 125,000 Chinese together, celebrating the forthcoming holiday in Melbourne.
The CEO of the leading Chinese property website Juwai.com, Carrie Law, reported in the Herald Sun that "this may be the busiest week for the Melbourne real estate market, receiving sales enquiries from Chinese buyers"
According to the recent survey which Juwai.com has conducted with 256 consumers, Australia is the second favourite country for overseas investment from Chinese buyers, which is only one rank below America.
The apartments and other housing types in Melbourne suburbs Point Cook, Clayton and Glen Waverley are all possible targets for Chinese buyers, because in the past six months they were discovered to be the most frequently searched-up suburbs in this Chinese real-estate website.
Nerida Conisbee, the Chief Economist of Realestate.com.au, indicates that the apartments near Melbourne's top universities still strongly attract the interest of buyers.
She said : "Chinese buyers still pay strong attention to education. They do realize that apartments near education institutions are ideal locations for home ownership or for rent , such as properties near Melbourne University, Monash University and RMIT "
"However at the same time, people realize that the purchase options are limited. Overseas buyers only purchase new houses, because as the land-housing package gradually becomes popular, the search frequency for apartments in suburbs such as Point Cook also rises, indicating changes in marketing trends."
The Founder and CEO of Investorist, Jon Ellis, indicates that although China's investments in Australia has dropped last year, but the large population density in China shows that demand will never disappear. However, a series of factors has caused some people to think that it is "very difficult" for Chinese property investors to invest in Australia.
Ellis continues "This includes Australia's increased tax-charge on foreign buyers and the increased difficulty for foreigners to obtain a loan. These factors has dissatisfied the Chinese buyers and they feel less welcomed in Australia compared to the past."
"Apart from this, there are other impacting factors such as the Chinese government's enhanced capital control and the limit they put on the money output amount from within borders to overseas."
Ms.Lau mentions that "earlier it has shown the week between Feb 15th to the 21st is a successful week for real-estate agents in Melbourne who cooperated with Chinese buyers. So will it also be a good thing for real-estate agencies? We reckon so."
Top 10 Victorian suburbs chosen by Chinese buyers in Melbourne Real Estate market:
Please contact our Melbourne apartment selling agent - Elite professional sales team on 1300 354 839 for further information and advice.
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