Strong Demand from Chinese Investors Expected to Further Reinvigorate WA’s Real Estate Industry, Claims REIWA
Perth, WA (PRWEB) August 27, 2014 -- The number of Chinese investors directing their sights toward Australian properties continue to rise – and their interest is not expected to wane anytime soon, industry insiders confirmed in a report published early this month in the Sydney Morning Herald (http://www.smh.com.au/business/chinese-rush-for-australias-homes-is-here-to-stay-20140806-100vnc.html).
A considerable percentage of these investors are targeting Chinese people relocating or emigrating for education and/or to launch their enterprises in the Land Down Under. They have great demand for both residential and commercial properties (outperforming demands from American investors), and this is prompting real estate companies throughout Australia to develop more offerings to meet the profitable interest coming from these foreign investors.
The Real Estate Institute of Western Australia or REIWA which a lot of these Chinese investors turn to for effective assistance in their investment property search, claims that this development is further reinvigorating the state’s real estate industry, which is actually already benefiting significantly from Perth’s mining boom. In addition to these factors, the ongoing efforts to develop WA as a desirable city for living and competitive commercial ventures are likewise luring more investors in.
Local real estate agents also point out that with the prices of properties in China being as they are, paired with the new policies imposed by the Chinese government for property payments which most business folks are not agreeable to, it’s no wonder a lot of savvy investors are opting for overseas properties instead, such as the ones in Australia which are deemed not only more affordable but also potentially more profitable. This is despite the price surge of real estate offerings in WA which reportedly rose to 8.4 percent the previous year alone (http://www.yourinvestmentpropertymag.com.au/market-report/wa/wa-excerpt-from-the-2014-january-market-report-182653.aspx). Chinese property investors believe that that they still have much more to gain from directing their investment toward these provisions, than from keeping them in their local shores because WA offers a fresher market for business.
To cater to the demand for both residential and commercial properties (which is projected to be sustained at least throughout the rest of 2014), REIWA regularly updates its website to provide new information on the developments around the state and the ones that are expected to rise soon. Plus, there is relevant news about the real estate market that can assist sellers and buyers in making smart calculated moves. The website is a trove of valuable information; from the new homes and developments in Western Australia, properties for sale, and properties for rent, to tips on how to find a reliable real estate agent, and so much more – these are all covered by REIWA’s official website, http://www.reiwa.com.au.
Brian Greig, The Real Estate Institute of Western Australia, http://www.reiwa.com.au, +63 9158978655, [email protected]
Share this article