Australia ranks number 2 for the most property searched on Juwai.com by Chinese buyers, reports the Australian Property Investor (2 February 2015) in an interview with Simon Henry, Co-CEO of Juwai.com. According to Henry, Australia’s popularity with Chinese investors stem from its proximity to China, its friendly relationship with China, its quality education, as well as its lifestyle. With an average budget of approximately $1.35 million – more than double of a typical first-time homebuyer – Henry emphasizes that Chinese buyers are not outpricing first-time homebuyers as they seek different kinds of properties. While Chinese investors used to prefer paying all in cash, Chinese buyers who are more educated have now started to enquire about home loans and banking products. Henry also believes that this is but the very beginning of a property cycle, and that there will be long-term growth in this market – thanks to the emergence of the middle-class Chinese in China and Southeast Asia. [This article is available in print only]
