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Global real estate technology giant Juwai IQI announced the launch of IQI Victoria in Melbourne today, joining IQI WA as the network’s second IQI real estate agency office in Australia.
Juwai IQI now has more than 27,000 real estate agents across 20 countries, in addition to its online international property portals Juwai.com and Juwai.asia. The company is also pursuing expansion opportunities in other Australian states and territories.
Juwai IQI Co-Founder and Group Managing Director Daniel Ho expressed his delight at partnering with long-time Melbourne real estate veteran Winston Lo to launch the new IQI Victoria.
“Having Winston at the head of the business gives us confidence in its rapid growth and success.”
“The new Melbourne team will provide an even greater presence for Juwai IQI in Melbourne, which is one of Australia’s most vital real estate markets. It will allow us to better serve our growing client base in Victoria.”
Under Winston’s leadership, Juwai IQI Co-Founder and Group CEO Kashif Ansari said the new office is launched with a team of highly experienced professionals at the top of their field in the local market.
“Winston himself is one of the best in the industry, as he brings business and financial skills from a first career in finance to world-class companies such as Accenture.”
“For the past 10 years, Winston has served as the Managing Director of the Hot Spot Property Group, a specialist in Melbourne’s off-the-plan, off-market, and nomination sales.”
Winston Lo, Head of IQI Victoria said it was an honour to be part of the IQI global agent network, stating that it is a tremendous opportunity for them to better serve developers and buyers in Melbourne.
“We have established IQI Victoria to serve both local and offshore buyers and help developers bring new projects to the market.”
He noted that despite the short-term house price forecasts, Melbourne’s housing market remains popular among local and overseas buyers, and there is still a strong long-term demand. This is especially true for Hong Kong buyers who are looking for homes in Australia that they can occupy immediately or in the near future.
“Purpose-driven buyers seeking property for their own use represent the largest share of the foreign buyer market today, followed by pure investors who seek diversification and total returns.”
“Today, investors are edging first-time buyers out of the market because of rising rental rates and inflation fears. In Melbourne, landlords have the power to raise rent to cover their own rising costs. Meanwhile, the long-term increase in property value further protects them from inflation.” 
Juwai IQI analysts expect residential prices in Melbourne to begin climbing again in 2024, making the next 12 to 18 months a favourable buying window for buyers.
There are several reasons to be optimistic about the Melbourne property market’s long-term prospects. These include strong population growth, a significant increase in immigration numbers, and increased investor activity.
Due to its affordability and excellent infrastructure, job market, and educational institutions, Melbourne is a very appealing location. The Greater Melbourne population grew by 806,800 people between 2011 and 2021, more than any other city in Australia.
Keep updated with the latest news on IQI Victoria from their Facebook page, here!
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