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For mainlanders, Sydney is hot property
By Juwai, 24 March 2012
Along with the standard purchases - abalone, sheepskin, macadamia nuts and koala soft toys - deluxe properties have been added to the "must-have" shopping lists of many mainland travellers to Australia. Enoch Yiu reports for South China Morning Post.
March 23, 2011 -- Ray Chan Wei, who heads a property agency in Sussex Street in Sydney's Chinatown, said mainlanders had been the biggest overseas buyers in the city since 2005.
"In some new property projects, up to 60 per cent of the buyers were mainland Chinese and about 20 per cent came from Hong Kong," said Chan (pictured), managing director of Henson Properties, which has operated in the area for 27 years. "Local Australian buyers represent no more than a small percentage of buyers in certain projects in the area."
