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One Australian brokerage is betting big on the Asian market after its parent company launched a foreign investor business.
Coronis Financial Services, part of the Coronis finance and property group, is expecting an increasing flow of leads from the new Coronis International division.
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Group managing director Andrew Coronis told The Adviser that the brokerage is interviewing multilingual loan writers who speak Mandarin, Cantonese or Bahasa Malaysia.
The first of these recruits, who is a Cantonese speaker, is scheduled to start next week, with more hires expected to be made as sales increase, Mr Coronis added.
Coronis is a highly diversified Brisbane-based group that also offers real estate sales, property management, financial planning, conveyancing and budgeting.
Mr Coronis said that the group’s end-to-end service is highly valued by foreign investors, because many of them want the buying process to be made as simple as possible.
“That full end-to-end service means we provide every piece of the property puzzle,” he said.
Foreign buyers now provide less than five per cent of the group’s property sales volumes, but that is forecast to rise to nearly 50 per cent by 2020, according to Mr Coronis.
“We’ve done a lot of research towards this and the number of Chinese investors who are going to be coming and placing money in Australia in property is quite extraordinary, so we had to get in on the ground floor,” he said.
Coronis International has four bilingual staff in Australia and will also open an office in China next month, he said.
Mr Coronis said that foreign buyers are showing increasing interest in Queensland rather than just focusing on Sydney and Melbourne.
This is a trend that has also been noticed by another finance and property group, Ausin Group, which opened its first Brisbane office earlier this week.
Ausin managing director Joseph Zaja said Brisbane is an emerging market for Chinese buyers and that it offers excellent long-term investment potential.
“Prices are affordable, major infrastructure projects are underway across the city, and the government is investing billions in south east Queensland,” he said.
“Brisbane’s accessibility to quality universities, major employment hubs and its clean lifestyle with an abundance of open spaces were major drivers for the Chinese to purchase in Brisbane.”
