PHOTO: Chinese enjoyed a week long holiday at the start of October. Picture: AP/Ng Han Guan Source: AP
IT was once a popular time to buy Aussie real estate, but a week-long China holiday has produced a surprise from Chinese buyers this year, with data showing their home preferences are changing.
CHINESE property investors have been turning away from Sydney real estate after years of binge buying of local homes.
Last week’s ‘Golden Week’ of celebrations, a popular Chinese holiday when China-based buyers have traditionally visited Australia to purchase new housing en masse, has proved quieter than expected.
Chinese real estate portal Juwai.com’s director Carrie Law said the holiday week, which ended on Sunday, saw fewer transactions than previous years.
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