Australia’s housing market is getting a leg up from Chinese investors who are finding Australia to be a lucrative property investment destination. In particular, interest has shifted to the West, due to the unaffordability of properties in Melbourne and Sydney.
Last financial year, Foreign Investment Review Board figures show an approval of 788 purchases by foreigners of new properties across WA. That’s a combined worth of over $500 million.
The investment board also allowed foreign buyers, predominantly based in China, to purchase 622 existing homes, which was worth a massive $490 million.
The amount of foreign cash coming into the WA property market has more than doubled over the past five years, showing there is serious interest in the West.
Peard Real Estate saw the opportunity to market homes to Chinese buyers across the world through a Chinese property portal in early 2015.
Maree Overton, Managing Director of the Peard Real Estate, says the portal has allowed agents to market properties to a much larger audience, worldwide.
“Our goal is to sell properties as quickly as possible and for the best price, and we do this through quality marketing to the right buyers.
“We are complementing our already extensive marketing plan with this international marketing tool, giving our clients properties the best chance of selling in what has undoubtedly been a tougher market.
“It’s all about changing and adapting, and we are always thinking of new ways to maximise the exposure our properties receive," says Mrs Overton.
Peard Real Estate is committed to leading the nation with innovative marketing and tailoring marketing plans for individual property needs.
Thinking of selling? Visit www.peard.com.au to see how we can help you.