Chinese property buyers are becoming increasingly attracted to Australian real estate, according to Beijing-based developer Hanya Federal.
The company showcased its first development in Melbourne through a display model in Beijing, with the chief operating officer expecting over 7,000 people to check out the exhibition.
"Many people open their eyes in amazement after listening to our presentation about the Australian real estate market," Wang said in an interview with ABC
"Perhaps it's because they compare it with the situation in China — the land is not free hold, the quality of the apartment isn't as good either."
It is assumed that the Chinese tend to look outside their country due to the limited investment housing options on the mainland.
Figures from the Chinese bureau of statistics indicate new home sales in the first two months of this year have decreased by 17% from a year ago.
Even though China’s real estate sector has been the source of wealth for some of the country’s richest citizens, it is going through a cooling period at the moment.
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