Sydney real estate agents are gearing up to welcome the influx of Chinese property buyers during this Chinese New Year, reports Domain (21 January 2017). A recent survey by Juwai.com revealed that 52% of Australian real estate agents expect 2017 to be busier than 2016, and that half of the Chinese investors surveyed who intend to travel internationally during Chinese New Year will property hunt during their trip as well. “It’s not always the case, but often we see a strong correlation between the countries Chinese consumers visit as tourists and the countries where they purchase property. During Chinese New Year, some agents see no Chinese buyers and others see an abundance of them. It depends on the type of product they’re selling and the location. Generally, we find that the wealthier buyers are more likely to combine property-hunting with tourism during Chinese New Year,” said Charles Pittar, CEO of Juwai.com.
