According to The Australian, many data from multiple real estate sites have shown that Melbourne, in the past two years, has become the most popular city for Chinese real estate buyers in Australia.
According to the data from Juwai.com (China’s overseas real estate website ), the first 7 months of this year, more than 40% of all the inquiries on the Australian residential market are related to Melbourne, which is more than the proportion of 35.6% a year before. In contrast, Sydney only attracted 17.5% of the inquiries, just slightly higher than last year.
Jane Lu, the business director of Australian market in Juwai.com said, in the first half of the year 2017, the demand for Melbourne property grew by 13.3% compared with the first half year of 2016, and she believed the demand was still strong.
“We believe that the future demand for Australian real estate will not be reduced. Chinese buyers take overseas property, especially property in Australia, as a safer and smart investment.” Lu said.
According to Lu Zhen, the most favored suburbs by Chinese buyers in Melbourne are CBD , Southbank, Point Cook and Tarneit in Western Melbourne, and Preston.
At the same time, the search data of people with Chinese IP address visiting the Australian real estate site realestate.com.au, also confirmed the above trend.
The data show that in July the site had more than 390,000 searches about Melbourne. At the same time, the search for Sydney is nearly 17,000 times, down 15% over the same period last year.
Real estate industry brokers believe that the reason why Melbourne can attract Chinese buyers are that, in addition to the factor that it is rated as the world’s most livable city, the city has a lot of popular schools, which can provide excellent education. And the Melbourne property is more affordable compared to Sydney.
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