Investment advisor Ausin Group may be quite unknown in Australia, but it is becoming a big player in the nation’s housing market, thanks to its mainland Chinese clientele.
The group aims to be even bigger, and sell between 2,500 to 3,000 new apartments or house and land packages across hot property markets in Sydney, Melbourne and Brisbane. This is up from last year’s sales figure of 2,000.
Chinese investors have been changing the landscape in Australian real estate, and no signs of levelling off are being seen, The Australian Financial Review
Ausin’s managing director of finance and wealth management, Mark Morcos, said most of the financing for those off-the-plan purchases – around 70% – came from Australian banks. He added that around 70% of these purchases are supposedly for investment purposes rather than to live in and the average price is just under $800,000.
Data from Credit Suisse shows investors based in China and new immigrants from China purchased nearly $9bn worth of Australian residential property last financial year, up 60% from 2013’s numbers.
"Purchases are concentrated in Sydney and Melbourne where Chinese demand is the equivalent of 23% and 20% of new supply, respectively," its latest analysis says. "We expect $60bn of additional Chinese demand for Aussie housing over the next six years to 2020."
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