Monday, 18 March 2013

One in six off-the-plan apartments in Sydney are snapped up by mainland Chinese investors.

As many as one in six off-the-plan apartments in Sydney are snapped up by mainland Chinese investors.

James Sialepis, national director of sales for Meriton, said 15 per cent of all sales in projects such as VSQ North 

and EON in Zetland 

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Were going to mainland Chinese investors who face tough property investment restrictions in their own country. He said Meriton used marketing companies in China.

Frasers Property, which is developing the Central Park apartments on Broadway, confirmed the majority of their off-the-plan sales were to Asians.

Andrew Taylor runs the Shanghai-based real estate portal Juwai.com, which directly markets Australian property to Chinese investors. He said the current interest was "just the tip of the iceberg''.

Michael Yang, the founder of GiFang.com, which means ``collect property'' in Mandarin, said Chinese investors could no longer buy a second property in China without incurring massive taxes.


Real estate is a huge deal on the Chinese web, with major web companies like Baidu (NASDAQ:BIDU) and Sina (NASDAQ:SINA) seeing their property portals as key traffic drivers. But China’s Soufun.com (NYSE:SFUN)