Friday, 27 September 2013

Coffs Harbour and Tamworth on Chinese investors' radars


Coffs Harbour and Tamworth on Chinese investors' radars

By Jennifer Duke
Thursday, 26 September 2013
While apartment builders have been targeting chinese buyers, house and land developers are also getting in on the action, with interest up in Coffs Harbour and Tamworth.

Andrew Taylor, CEO of the number one Chinese international property portal, Juwai.com, pointed to statistics showing that Chinese investor interest in Tamworth over August was up 177% over January 2013 figures.
In Coffs Harbour, it was up 133%.
These numbers are based on user activity on the websites page views, searches, search results and enquiries.
"Australia's Foreign Investor Review Board makes it clear that international investors who want to buy house and land packages can almost always get approval. The only condition is usually that they begin construction within a couple of years," said Taylor.
"Our experience with Chinese buyers tells us that some prefer new property, and the chance to design a house around their own lifestyle can be very attractive," he said.
"Some want to have a wok kitchen, which you can't find in most Aussie houses. A wok kitchen is a small room with a sink, stove and powerful exhaust fan just behind a door off the larger, Western-style kitchen."
Director and West Australia operations manager for Integrity New Homes, Glenn Leet, is offering this type of product in both areas.
Leet said that the company's goal is to increase enquiry from Chinese buyers by 25% within six months.
"What I learned from going to China is that house and land packages are of interest to Chinese buyers, especially those who will be living in Australia. Your best buyers are those who already have their visa or residency sorted out," he said.