Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Chinese market doesn’t sleep, says Ellis

Now is the perfect time to strike up relationships with overseas buyers, according to Investorist founder Jon Ellis.

While Australia may be winding down over the holidays, the opposite is happening over in China, Mr Ellis says.

“For developers looking to tap into the huge Asian buyer market, the time to formulate relationships, educate and condition the market is now,” he said.

Advertisement
Advertisement

“Our team is flat out keeping up with the level of enquiry we have from our network partners seeking new properties to fill their clients’ briefs.”

According to FIRB’s latest annual report, the value of approvals for foreign investment in Australian real estate increased 75 per cent last financial year to $61 billion, with Chinese accounting for around two-thirds of applications.

Mr Ellis says exposure to Chinese buyers is critical. He says that in early January, due to less competition, the numbers are still likely to be on the developer's side.

This year marks the earliest Chinese New Year for the past five years; on January 28, 2017.

“The New Year holiday is the most important annual festival for people of Chinese ancestry all over the world,” Mr Ellis said.

“Real estate purchases are also top of mind for many people seeking new homes, fresh starts or investments. It is also known as ‘Golden Week’ by property professionals for this reason, given so many Chinese make purchase decisions during this time.”

[Related: Chinese group acquires mortgage insurer]

Chinese market doesn’t sleep, says Ellis
mortgagebusiness

Latest News

The corporate regulator has defended its move to appeal the Federal Court’s decision to overturn its responsible lending case against West...

The chief executive of the major bank is determined to lead the bank’s response to money laundering allegations. ...

The ACCC has authorised official changes to the ABA’s Banking Code of Practice to better align with recommendations made by commissioner K...

FROM THE WEB
podcast

LATEST PODCAST: Vertical integration and the rise of neobanks

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.