{"id":41401,"date":"2023-01-06T10:11:18","date_gmt":"2023-01-05T21:11:18","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=41401"},"modified":"2023-01-06T10:11:18","modified_gmt":"2023-01-05T21:11:18","slug":"chinese-buyers-to-return-to-australia-as-border-opens","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/chinese-buyers-to-return-to-australia-as-border-opens\/","title":{"rendered":"Chinese buyers to return to Australia as border opens"},"content":{"rendered":"

PHOTO: Chinse buyers. FILE<\/strong><\/p>\n

According to realestate.com.au<\/a> chinese property investment is tipped to lift again as China opens its borders for the first time this week, allowing its citizens to travel overseas.<\/p>\n

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Why Australian property is still a popular choice by Chinese buyers<\/a><\/h2>\n<\/header>\n<\/div>\n

And Australia is top of the international buying wishlist for Chinese buyers<\/a>, according to leading Chinese property website group Juwai IQI, followed by the United States and Canada.<\/p>\n

Juwai IQI chief executive Kashif Ansari said travellers\u2019 priorities included visiting family and friends, studying abroad, business, tourism, and property investment.<\/p>\n

\u201cThis will be the first opportunity in three years for most Chinese to visit overseas real estate markets,\u201d he said.<\/p>\n

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Chinese buyers are getting ready to flock back into Australia\u2019s \u2018cheap\u2019 property market<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cWe expect Chinese outbound travel and accompanying property investment to increase rapidly in January from its current very low level.\u201d<\/p>\n

Mr Ansari said outbound travel from China might reach 2019 levels by mid-2024.<\/p>\n

It comes as the\u00a0Foreign Investment Review Board\u2019s first quarterly report\u00a0in December showed Mainland China and Hong Kong together accounted for five times more money approved for investment in Australian houses and apartments as the next-highest country, Vietnam.<\/p>\n

Melbourne, Sydney, Brisbane, Perth and the Gold Coast were the top five cities for Chinese buyers, according to Juwai\u2019s data.<\/p>\n

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\u2018Get over it\u2019: Bob Carr\u2019s advice to prospective homeowners concerned about Chinese buyers<\/a><\/h2>\n<\/header>\n<\/div>\n

Biggin & Scott Glen Waverley agent Julie Karl said she had set the auction of an Oakleigh property for March in anticipation of the return of Chinese interest and students.<\/p>\n

\u201cAnything around Monash Uni is an investment hub,\u201d she said.<\/p>\n

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\u201cThe confidence of buyers will be there if they know students are coming back and they can buy at good prices and rent it out to students.\u201d<\/p>\n

Ray White Balwyn director Helen Yan said she would expect most travellers would wait until Chinese New Year on January 22.<\/p>\n

\u201cI have received a few WeChat (messages) saying they are going to Australia soon, booking a ticket, inquiring about property size and location,\u201d she said.<\/p>\n

MOST POPULAR IN NEW ZEALAND<\/span><\/h3>\n