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The Sydney and Melbourne investor markets are running so hot that one China-focused brokerage has forecast doubling its sales.
Ausin Group, which deals principally in Chinese buyers, is experiencing a sharp upturn in business through its Sydney and Melbourne offices, according to general manager Joseph Zaja.
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“In the last year we have written about $250 million in loans. Next calendar year we are on track to write $500 million,” he said.
“Because we sell a lot of off-the-plan properties and a lot of our projects we sold two or three years ago are coming up to settlement, we have about 1,000-plus settlements for the next three years.”
Ausin is a China-based property group that offers broking, property management, wealth management, immigration and project marketing services.
The Australian broking business aggregates through Connective and employs a team of about 10 brokers and admin staff, Mr Zaja said.
Mr Zaja said that Chinese investors are showing increasing demand for Australian property.
“From what I am hearing and seeing there are a lot of companies selling property in China and they have the opinion that it’s an easy market, but it isn’t. It’s very competitive,” he said.
“The buyers demand an extremely high quality of property and level of service. We are expanding because we are providing them with a full suite of services.”
Mr Zaja said it is common for Chinese investors to buy a property, rent it out for several years, and then move in themselves after acquiring permanent residency.
“A lot of them have kids who in five to 10 years are planning to study in Australia. I would say 70 per cent are investors and 30 per cent are owner-occupiers,” he said.
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