Chinese Increase Aussie Home Searches

29 Apr 2013 - Staff Reporter from http://www.rebonline.com.au

Chinese buyer interest in Australian real estate is up significantly compared to 2012, new research has shown.

According to international property portal site Juwai.com, since December 2012 there has been a 61 per cent increase in property searches, whilst property viewings are up 162 per cent in the same period on the portal site.

Of the site's Chinese-speaking users, 82 per cent are located in mainland China and 18 per cent are located in Australia, south east Asia and other countries.

Juwai.com will also soon release data for other countries in Europe, Asia and North America.

Chinese buyers are increasingly searching for Australian real estate because of the stable housing market, according to Andrew Taylor, Co-CEO of Juwai.com.

"Chinese buyers seek out Aussie property because of Australia's stable housing market, regulatory protection and the fact that its time zone is very close,” he said.

“East coast Australia is only two hours different from Shanghai and Beijing, while Perth is in the same time zone as the Chinese cities.

“Recent initiatives such as the Significant Investment Visa have had a impact on cementing Australia as a preferred property investment destination, and the impending convertible currency deal, where the AUD and RMB convert directly, will nurture Chinese buyer interest into the future.

“It is an exciting time for the Australian property market.”