Juwai IQI’s CEO and Co-Founder Kashif Ansari and Co-Founder & Managing Director Daniel Ho’s insights are featured in the following news articles.
During the September quarter of 2023 and the first quarter of the current financial year, the government approved 1,374 proposals for residential real estate investments.
These proposals amounted to a total worth of $1.5 billion.
According to the report, China emerged as the primary source for approved residential real estate, contributing $700 million in value.
Commenting on this data, Daniel Ho, co-founder and group managing director of Juwai IQI, noted a decline in offshore Chinese and Hong Kong buyers making purchases.
He explained that many are now waiting until they obtain permanent residency in Australia to avoid additional costs associated with purchasing as non-residents, such as extra stamp duties and uncertainty with the FIRB process.
Ho highlighted that owning property as a foreign buyer also incurs higher expenses like land tax and vacancy tax compared to owning property after obtaining permanent residency.
Kashif Ansari, co-founder and group CEO of Juwai IQI and author of the report, attributed the surge in overseas real estate investment by Chinese buyers to a weak domestic market in China.
He explained that Chinese investors view real estate as a stable investment option offering potential price appreciation and long-term foreign currency income, independent of the Chinese economic cycle.
What other strategies do Chinese investors implement in their property buying process? Find out more by clicking on the links below.
Learn more here: Daily Mail, API Magazine, Real Estate Business, Realestate.com.au, Your Investment Property, LiveMint
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