Despite a Big Need to House Australians Why is the Property Sector calling for more Migrants?

IN the background the developer lobby, the Property Council of Australia (PCA), have been plotting to bring back high immigration following the cessation of the Pandemic lockdown … read more …

For more about their Push for boosting immigration ‘A seven point plan to kickstart the economy’

View: https://eliteagent.com/property-industry-can-help-kickstart-economic-recovery/

or …

https://www.miragenews.com/property-industry-can-kickstart-economic-recovery/

or …

https://www.marketscreener.com/news/Property-Industry-Can-Kickstart-Economic-Recovery–30637915/

And …

REMEMBER … ScoMo before entering politics was the National ManagerPolicy and Research, Property Council of Australia 1989-1995 .. where he wrote the Policy for this Developer Lobby!

AND so the PCA has anointed their manto seize the reins of Australia

‘Property Industry Donations favour the Coalition about eight to one AEC figures show’

https://www.domain.com.au/news/property-industry-donations-favour-the-coalition-about-eight-to-one-aec-figures-show-927046/

MEANWHILE there is …

a need for 200,000 Social Housing dwellings to be built (ACOSS Report)

Read more!

https://caanhousinginequalitywithaussieslockedout.com/2020/05/08/what-led-to-the-decline-in-home-ownership-really/

most of the Public Housing estates in NSW have been sold off for high-rise redevelopment targeting overseas buyers

-a whole Cohort of aspiring Australian First Home Buyers remain locked out … prior to the Pandemic by a ‘hot money’ real estate market and the lowest wages growth for 60 years

NOW many of them may be unemployed!

-the victims of the 2019-20 firestorms 6 months on are living in tents and/or shipping containers, and are begging for money!

Read more!  ‘Homeless still fighting for Funds after Bushfire disaster’

https://www.dailytelegraph.com.au/bushfiresupport/homeless-still-fighting-for-funds-after-bushfire-disaster/news-story/0db5aae64b53f9c2b3725367363202d6

SO why is this Property Sector not addressing the needs of Australians? HOW come this Sector is exempt from the second tranche of the Anti-money laundering laws?  WHY did the Morrison Government exempt this sector in October 2018?

These are questions for your local MPs …

The Coalition raked in the most donations from the property sector, by far. Photo: Sitthixay Ditthavong

PART 2 on Mega Rich Foreign Buyers Scooping Up North Shore Mansions Online!

PART 2

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CAAN Photo: The Killara Mansion sold weeks ago

THIS Killara property sold prior to the beautiful Lindfield home to a Taiwan buyer for $6.3M … it comes as no surprise, does it, with much overseas interest targeted through WeChat and Ray White’s Chinese Home Link connection?

IT would seem that the CCP expansion from Chatswood is well underway … with these North Shore home sellers keen to maintain their local ‘home values’ …

While across Sydney house prices continue to fall

HAVE the wealthy Upper North Shore community contemplated that as they maintain the Shore’s ‘home values’ by selling to this overseas market … and move onto Byron Bay … that with more foreign buyers particularly from China, Hong Kong, and Taiwan that these exclusive locations are being acquired?

THAT as the new ‘Permanent Residents’ move in they are also buying and setting up business …

WHAT opportunities will there be in turn for the established North Shore Families to live and work in the ‘North Shore’ as more and more of these new overseas buyers move in? As their Familes are priced out by overseas UHNW and HNW?

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CAAN Photo of the tennis court on expansive grounds of yet another Lindfield property that went on the market last weekend! Will it go the same way?

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CAAN Photo: This local Lindfield resident has raised the Australian Flag … is that in recognition and concern for what is going on?
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CAAN Photo: Beautiful Lindfield with its tree-lined streets, hillsides and sweeping views … how long before its ownership belongs to the CCP as they expand out from Chatswood?
READ MORE! https://caanhousinginequalitywithaussieslockedout.com/2019/09/01/a-geopolitical-strategist-on-the-mk-hong-kong-the-u-s-and-australia/

VIEW PART 1: ‘Foreign Buyers from Hong Kong Taiwan are buying Prestige Aussie Property Online!’

https://caanhousinginequalitywithaussieslockedout.com/2020/05/17/foreign-buyers-from-hong-kong-taiwan-are-buying-prestige-aussie-property-online/?fbclid=IwAR0SVx3XAGAb-EENFWvB7eq8D7a0XhmAyGMWXGTgqjELAWQXUZh18l-KpCI

CHINA’s Acquisition of much of AUSTRALIA’s Assets may Backfire when they aim at Exports they in fact Own!

Communique that CHINA’s next steps will be to focus on more Australian exports including dairy, seafood, oatmeal and fruit to face stricter quality checks or tariffs however this may backfire because China owns many of these companies …

*Nor is there an Australian public register of China’s acquisitions

BUT…Prof. Peter Drysdale from the ANU has put together investment data from the FIRB together with company reports and media stories which can be found on the ANU’s ‘Chinese investment in Australia’ database of the Mainland direct commercial acquisitions in Australia

-another project of KPMG and Sydney university concerns the range of Chinese outbound direct acquisitions in Australia including from four of Australia’s largest abbatoirs

BEEF

Including Queensland’s Kilcoy Pastoral Company controlled by China’s ‘New Hope Group’

DAIRY

Mengniu … part-owned by the Chinese Government now owns much of Australia’s dairy including:

-Dairy Farmers, Masters and Pura milk; Big M, Dairy Farmers and Pura Classic flavoured milk; Dare and Farmers Union iced coffee; Vitasoy soy milk and coconut milk; and juice brands Daily Juice, The Juice Brothers and Berri; and Yoplait yoghurt.

-Tasmania’s VDL owned by Chinese company Moon Lake

CHINA is the largest export market not only of liquid milk, powder, butter but ‘live dairy cows’ … which tells us that AUSTRALIA may well lose its market altogether …

WINE

Exports of $1.25B to China of the total $2.89B global wine exports

China is acquiring Australian vineyards

-no public listing of Chinese ownership of Australia’s wineries*

-Yantai Changyu Pioneer Wine Co owns 80% of Kilikanoon Estate of Adelaide

-by 2018 Chinese owned 10% of the Barossa Valley winemaking region incl. Chateau Yaldara, and 1847 Wines

-Max’s Vineyard was sold in 2018 to a Chinese-backed investor for more than $3 million

-and Cimicky Wines for $6.6 million

-Weilong Wine Grape Company invested $120M to build a winery in Mildura

COTTON

-93,000 hectare Cubbie Station and its access to water from the Murray Darling!

IRON ORE/STEEL

-China sources two thirds of its iron ore for steel from Australia

-years ago China invested in Fortescue Metals

.but has since sold down its $US771M stake

COAL

Yancoal Australia controlled by State-owned Yankuang Group; one of Australia’s biggest thermal coal exporters; with China a key market

WITH so much of what was formerly ‘Australian Owned … Australian Made’ now owned by CHINA … therefore the CCP … it would seem that when some among us say ‘it doesn’t matter who owns it …’

WHEN China now OWNS so much of what was Australian … that you should in turn ask them Why? 

For them to make such an ignorant statement … it would seem that they have a vested interest in the sell-out of Australia …

AND if the FOREIGN INVESTMENT REVIEW BOARD (the FIRB) had not so secretly been selling this Nation out … with only a mere five ‘foreign buy-up applications’ rejected …

AUSTRALIA would be in a far more secure position than it is now!  This bully would not have so much negative impact …

AND …

*Professor Allan Fels, a former chairman of the ACCC described the FIRB as a black box and said the scrutiny was long overdue.

-that the FIRB was not a regulatory body; it was not independent, politically *

RELATED ARTICLE:

‘HOW has the FIRB escaped Scrutiny?’

https://caanhousinginequalitywithaussieslockedout.com/2020/03/08/how-has-the-firb-escaped-scrutiny-about-alinta-and-a-black-box-that-needs-an-overhaul/

READ MORE!

‘China will have to be mindful of which Australian exports they target next if they don’t want to hurt their own interests’

https://www.abc.net.au/news/2020-05-23/china-considers-escalating-trade-war-coronavirus-covid19-inquiry/12278672

Beef steaks in a butcher with above a sign with both Chinese and English writing
Chinese investors own some of Australia’s largest agricultural and food manufacturing companies that export to China.(ABC Landline: Pip Courtney)

FOREIGN PURCHASES OF AUSTRALIA’S DEVELOPED COMMERCIAL PROPERTY NOW NEED FIRB APPROVAL … WHATEVER THAT MEANS

FOREIGN PURCHASES OF AUSTRALIA’S DEVELOPED COMMERCIAL PROPERTY NOW NEED FIRB APPROVAL … WHATEVER THAT MEANS …

-dating from 29 March 2020 for FIRB approval for investments by foreigners have been reduced to $0 for agreements entered into after this effective time

-previously a range of private purchases in Australian media, residential land sites, mining and production tenements, and vacant commercial land proposals were subject to $0 threshold rules and required FIRB approval

-temporarily FIRB approval now required for purchase of commercial property or businesses valued at less than $275M

AND MORE …

AND NOTE  …

-residential property applications are usually processed within 30 days;  no expectation by the FIRB that the processing times are to be delayed

LOOKS like more of the same … the sell-off of Australia’s National Estate …. 

TO DATE only five foreign investment applications have been rejected …

READ MORE:   https://www.mondaq.com/australia/real-estate/933434/foreign-acquisition-of-developed-commercial-property-in-australia-now-requires-approval-from-firb

WHY is the Demand for Australian Commercial Farming booming? Where has the Boom come from despite the Pandemic?

Key Elements

-the very long drought broken

-the low value of the Aussie Dollar luring foreign offshore groups

-food security for overseas interests

THESE PERCENTAGES CONCERNING THE ANNUAL INCREASED INTEREST IN AUSTRALIAN COMMERCIAL FARMING PROPERTIES ARE ALARMING!

-Western Australia up by 59%

-Queensland 41%

-Victoria 30%

-Tasmania 29%

-NSW increased by 7%

HOW LONG before the Morrison Government introduces more restrictions on foreign buying of our commercial farming assets … ?

WHY NOT PUT A STOP TO FOREIGN ACQUISITION OF OUR NATIONAL ESTATE AND PROTECT AUSTRALIAN FOOD SECURITY?

WHY EXPORT OUR TITLE DEEDS?

READ MORE ‘Why farms are the most sought-after business opportunities during COVID-19’

https://www.news.com.au/finance/real-estate/farms-are-the-most-soughtafter-business-opportunities-according-to-realcommercialcomau/news-story/46f2717ca9e817466860f7316b78c43a

Home Buyers from Over There lured by the low Aussie Dollar … market slump … investment protections … wealth and health

MEANWHILE on the ‘Almost Australian’ program the story of an Afghani child orphan who made his way here alone as a refugee yet he is still on a ‘Temporary Protection Visa’ more than 10 years later … but Money Launderers are welcome in abundance … ‘what a corrupt little nation we have become’ – to quote LVO from memory!

Key Points …

Emma Vadas from Standen Estate Agents said 90% of enquiries from Chinese have consumed her company with proposals

-these are buyers who have bought and sold 2 to 4 years ago

-real estate speak:  ‘such big drops would not happen if a large number of foreign buyers swooped in to capitalise on a temporarily depressed market’

WHY does the FIRB not ensure that the property market is only open to Australian buyers esp. in a recession?  Enabling Australians to take advantage of lower house prices … FFS!

YET foreign buyers who are prevented from flying here can buy Australian homes online!

WHAT sort of a government allow the FIRB, and real estate marketers in China luring parents of students studying in the US and the UK to look to Australia

-offering permanent residency with Medicare benefits and access to a range of Visas for family members

Australia a SANCTUARY … with everything they want … and they are coming for it … and you know what … you can’t blame them … BLAME OUR GUVMNT … as they languish before the CCP hoping for an enquiry as our YOUTH are condemned to a life of poverty!  FFS!! 

Related Article: ‘Juwai China is back in Business ahead of the World and Chinese Property Buyers are back in Australia’

https://caanhousinginequalitywithaussieslockedout.com/2020/05/13/juwai-china-is-back-in-business-ahead-of-the-world-and-chinese-property-buyers-are-back-in-australia/

READ MORE!

‘Fears Australian Housing Prices surge Foreign Investors look to snap cheap properties’

https://www.dailymail.co.uk/news/article-8327221/Fears-Australian-housing-prices-surge-foreign-investors-look-snap-cheap-properties.html

Chinese buyers particularly liked places close to schools and universities that weren't particularly expensive by Australian capital city standards. Pictured: people attending an auction prior to coronavirus social distancing restrictions
Chinese buyers particularly liked places close to schools and universities that weren’t particularly expensive by Australian capital city standards. Pictured: people attending an auction prior to coronavirus social distancing restrictions; Photo Daily Mail

Foreign Buyers from Hong Kong … Taiwan are buying Prestige Aussie Property online

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CAAN Photo

AS JUWAI revealed in recent reports foreign buyers have resumed scooping up Aussie homes

This time a beautiful Federation mansion in Lindfield for $6M; the second home sold through a video link to a buyer in Hong Kong.

This Lindfield property had only been on the market a fortnight!

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CAAN photo: The magnificent Lindfield property. Will its heritage continue to be respected?

These buyers not only gain Australian Title Deeds with the benefits of permanent residency and access to Australia’s public health system

But currently there is a beneficial exchange rate as our dollar has lost its value!

IT has even been lower than this … and that would explain why when the FIRB Annual Report was issued a week ago:

mainland Chinese property buyers investment in 2018-19 dropped to $6.1B

-down more than 50% from 2017-18; lowest since 2012-13

HOWEVER …

Hong Kong Chinese investment of $2.8B in 2017-18 to $9.3B in 2018-19*

Singapore buy-up increased from $7.8B to $9.8B

Japanese investment increased from $2.2B to $3.8B

Related Article:

https://caanhousinginequalitywithaussieslockedout.com/2020/05/13/no-let-up-update-on-foreign-buyer-invasion-of-the-australian-housing-market/?fbclid=IwAR3Jy1w0RcA3fUieKosfwydklmvQVvClhTCo3MjuztCbhXg4gRz6ED97qLs

AS this was an established home the buyer in such case must have already gained ‘Permanent Residency’ through buying a ‘new home’ or even a level of a residential apartment development earlier.

HOW many of these foreign buyer housing transactions involve ‘Money Laundering’ …. ‘Black Money’ aka ‘Hot Money’ … ?

HOW likely is it that there is a high percentage purchased through this means when the Morrison Government exempted the Real Estate Gatekeepers from Anti-Money Laundering Laws in October 2018 … if this wasn’t so why would the Government have made this exemption?

WITH a whole Cohort of Australians locked out of home ownership including Professionals why hasn’t the Morrison Government withdrawn this exemption? Or is there some benefit in this exemption for the Liberal Party? Its politicians?

IT might be a good idea for the people of Lindfield to ask their MP about these matters?

Send your MPs an email:

https://www.paulfletcher.com.au/contact-paul-fletcher-mp

Jonathan Richard O’DEA


speaker@parliament.nsw.gov.au

Read more!  Then SHARE!!

‘China-based buyer snaps up north shore estate site unseen amid rise in overseas purchasing activity’

https://www.realestate.com.au/news/chinabased-buyer-snaps-up-north-shore-estate-site-unseen-amid-rise-in-overseas-purchasing-activity/?rsf=syn:news:nca:dt:article

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CAAN Photo: Northcote Road Lindfield; in 2016 Ray White expanded its agency services to China, signing an agreement to list new and old properties for sale with China’s largest real estate agency, Lianjia, also known as Homelink. That would explain why Ray White does not have WeChat symbols on their sale or auction signs. Read more:
 
https://www.whiteandpartners.com.au/news/ray-white-launches-in-china/





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ECONOMISTS incite Governments to buy unsold apartments to boost stock of Affordable Housing

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CAAN Photo: Ivanhoe Estate, Macquarie Park at May 2020 former Public Housing Estate to be redeveloped for private residential with one third allocated for Social Housing

ECONOMISTS incite Governments to buy unsold apartments to boost stock of Affordable Housing

Following Welfare Agency reports …

-some 600,000 Australians lost their jobs in April 2020

A new report recommended …

-public funds in private unsold apartments could create affordable housing

-prior to the Pandemic more than 50,000 in the queue for social housing

-using our taxes to buy apartments could arrest house price falls; and restore construction (aside from high-rise?)

-a Central Housing Bank could bring 30,000 affordable homes across Australia’s 20 largest cities in its first year

-more than 200,000 approved dwellings in Sydney alone which aligns with the need for 200,000 social housing homes (ACOSS report)

WOULD these dwellings described as ‘Affordable Housing’ be for the rental market?

TO what standard have these apartments been built? Little seems to have changed for the better to date … even after the investigation by David Chandler ..

WHY has NSW INC struggled to implement the building industry reforms recommended by the Shergold-Weir Report over two years ago … and that of Michael Lambert?

Related Article:

NSW Building Industry Watchdog warns Phoenix operators not to manipulate the NSW government’s construction push to keep the economy running

https://caanhousinginequalitywithaussieslockedout.com/2020/04/16/nsw-building-industry-watchdog-warns-phoenix-operators-not-to-manipulate-the-nsw-governments-construction-push-to-keep-the-economy-running/

READ MORE!

Governments urged to buy up apartments to boost affordable housing stocks

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CAAN Photo Icon and Romeciti high-rise residential apartments in Macquarie Park May 2020

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No let-up … Update on Foreign Buyer Invasion of the Australian Housing Market

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CAAN Photo: Meriton Tower 1 of Centrium; Harry Triguboff, the Urban Taskforce and
Lucy Turnhbull former Chief Commissioner of the Greater Sydney Commission … did they have a hand in the growth of Chatswood?

MORE about the unyielding Foreign Buyer invasion of the Australian Housing Market!

Key Points:

The FIRB Annual Report issued a week ago revealed:

mainland Chinese property buyers investment in 2018-19 dropped to $6.1B

-down more than 50% from 2017-18; lowest since 2012-13

HOWEVER …

Hong Kong Chinese investment of $2.8B in 2017-18 to $9.3B in 2018-19*

Singapore buy-up increased from $7.8B to $9.8B

Japanese investment increased from $2.2B to $3.8B

WHAT Juwai IQI executive chairman Georg Chmiel, perhaps should have said that it was Beijing Capital Controls alone that led to the drop in Chinese buying our Residential Property …

Because small percentage increases in fees and stamp duty mean little to HNW from China

UNTIL NOW … with a return of these foreign buyers to the Australian housing market … as the Capital Controls have been lifted

-non-bank lenders are again willing to finance Asian buyers

-compare the 8% Australian stamp duty with the 20% taxes in Singapore and Vancouver

HOW are globalisation and the FIRB acting in the interests of aspiring Australian First Home Buyers?

* 75% of these foreign buyers are seeking properties priced at $1M or less with the median being $610,000 … competing with the Australian First Home Buyer …

-like Nicki and Jay in ‘A Current Affair’ Story ‘Foreign Buyers They’re Back’ 12 May 2020

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CAAN Photo: Chatswood the Interchange for the buses and rail.

David Lee, Geopolitical Strategist on Chatswood said – ‘it’s like this city in the middle of nowhere called Chatswood … it is just northwest of the Sydney CBD.
 
It is being built by the Chinese Communist Party.
All the money has come from China.
 
Find more:  https://caanhousinginequalitywithaussieslockedout.com/2019/09/01/a-geopolitical-strategist-on-the-mk-hong-kong-the-u-s-and-australia/
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CAAN Photo: Sydney Metro … tomorrow’s Sydney … Chatswood being built ostensibly by Chinese money

Note: houses in Chatswood are priced from $2M; Chatswood has good schools, health services, and transport!

RECENTLY CAAN learnt that some developers are restricting sales to ‘a level at a time’ … perhaps this practice not only locks out Australian First Home Buyers but is accelerating the ‘silent invasion’ ???

WHY not make your objections to your local MPs?? Send an email message then you have a record in writing!

WHEN will the Morrison Government direct the developer sector to build affordable and social housing for Australians with a need for 200,000 social housing dwellings; affordable housing for First Home Buyers; and homes built for Firestorm victims?

IMPORTANT! In this related article from Adele Ferguson, ‘A Black Box that needs an Overhaul: How has the FIRB escaped scrutiny?’

It was revealed that:

Professor Allan Fels, a former chairman of the ACCC described the FIRB as a black box and said the scrutiny was long overdue.

-that the FIRB was not a regulatory body; it was not independent, politically *

-nor transparent; conditions imposed are generally not released to the public

https://www.smh.com.au/business/companies/a-black-box-that-needs-an-overhaul-how-has-firb-escaped-scrutiny-20200306-p547h3.html#comments

READ MORE about the return of foreign buyers to the Australian Housing market:

‘Foreign investors headstrong on Aussie real estate’

https://www.smartpropertyinvestment.com.au/research/21083-foreign-investors-headstrong-on-aussie-real-estate

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CAAN Photo apartment towers in Chatswood

JUWAI: CHINA IS BACK IN BUSINESS AHEAD OF THE WORLD … AND CHINESE PROPERTY BUYERS ARE BACK IN AUSTRALIA

CHINA IS BACK IN BUSINESS AHEAD OF THE WORLD … AND CHINESE PROPERTY BUYERS ARE BACK IN AUSTRALIA … further confirmation from this report on ‘A Current Affair’

CAAN has been sharing the truth with you through Expert Reports since November 2014 …

NOW it appears it has taken the frightening consequences of the WUHAN PANDEMIC … to bring home the message to our politicians and even some of those who have prospered so much from Chinese buyers in the Australian Property Market …

WHAT will it take for the Morrison Government to implement and enforce the second tranche of the Anti-Money Laundering Laws for the Real Estate Gatekeepers?

-having exempted these gatekeepers in October 2018

WHEN the ‘flying pegasus’ presents a major security and financial risk to Australian Society … ?

ASK why has it taken so long for NINE … a major media network to tell it as it is?

CAAN will go even further than the closing comment of Robert Klaric, Real Estate Industry Advisor especially concerning Chinese property buyers …

‘They have a lifestyle, they have freedom, and they can protect their wealth from the CCP,  from the Chinese Communist Party.’

Because the CCP controls all its citizens … it has been so easy for the Party not having to conduct military warfare but simply for Party members to arrive on a Flying Pegasus … in a Silent Invasion … and buy Australia’s National Estate … who can we thank for this? 

Who has had the greatest hand in this? 

Also view these related articles:

‘Juwai predicts Chinese Investors remain keen to buy Australian property: Are they seeking cheaper prices?’

https://caanhousinginequalitywithaussieslockedout.com/2020/05/07/juwai-predicts-chinese-investors-remain-keen-to-buy-australian-property-are-they-seeking-cheaper-prices/

How benevolent of Chinese Buyers to scoop up Australian Housing: This is aside from Ambassador Cheng Jingyes threat?

https://caanhousinginequalitywithaussieslockedout.com/2020/05/11/how-benevolent-of-chinese-buyers-to-scoop-up-australian-housing-this-is-aside-from-ambassador-cheng-jingyes-threat/?fbclid=IwAR1aUQT9naUzGr_bc3dVQ4OfP61u_J92r9UhXRLCsi75cALmNpaAag4OCpI

TRANSCRIPT:  FOREIGN BUYERS:  ‘THEY’RE BACK’: A CURRENT AFFAIR

As our borders closed, local house-hunters thought the competition would ease. And It did for a while. But foreign buyers with deep pockets are back. #9ACA

Brady Halls, Reporter:  Estate Agent James Crowe is finally back doing what he does best. (Morton Real Estate)

And Nicki and Jay have been chomping at the bit to get back into the race.  The couple have been house hunting for a year now, and the Covid shutdown made their search even slower.

Nicki:  It did a lot, a lot of the properties actually dropped off the market we saw;  so things that we had been watching to see the prices fall were no longer on line. 

Halls:  But now another obstacle has popped up.

(Chinese buyers occupying auctions)

Nicki:  We don’t need any more competition than there is already.  We want to find something as soon as possible before the rest of the World!

Halls: And that competition is coming from where Covid began!

Lulu:  We are actually busy.

Michael Pallier:   Yeah, we just sold this house to a Chinese buyer, and they specifically bought it to use when they are not in China. *

Georg Chmiel, Executive Chairman at Juwai-IQI:  China is back in business much earlier than the rest of the World.

Pallier: (As he looked over a balcony he indicated to Brady Halls) 

New Chinese owners there, Chinese owners here, and the whole of this area is, you know, Chinese population.

Robert Klaric:  What we will see is that the wealthy mainland Chinese will look towards Australia now to secure their wealth and secure their health*

CAAN:  As shared previously with you … when foreign buyers buy our residential property they can gain a ‘Permanent Resident Visa’ with MEDICARE benefits thrown in!

And through Visa Manipulation, and able assistance from Migration Agents they can access a vast range of Visas including:  student, investor stream, Family, Parent, Grandparent, and Guardian … the whole Family Clan may come to  Australia!

Halls:  Chinese money is starting to flow back into Australian property.

These new apartments in Sydney and Melbourne have reportedly seen unprecedented sales and enquiries from wealthy Chinese taking advantage of our Covid-19 affected real estate market.

Chmiel:  Chinese enquiries were only down 14% in the first quarter versus 40% for local buyers so much, much less than the local buyers.

Halls: Georg Chmiel is from Juwai, a Chinese property portel.  So the demand from China has not fallen?

Chmiel:  Definitely for a number of reasons on the one side Australia managed the Covid crisis really well;  Australia is very attractive for students, investors and retirees, and also the market, the Australian property market is very resilient.

Halls:  Michael Pallier and wife Lulu from Sotherby’s Realty in Sydney’s east vouch for that.

Michael Pallier:  We have had quite a bit of interest from people from Asia.

Halls:  This apartment is generating much foreign interest.  And he sold another one below to a Chinese buyer only last month.

Pallier:  They can’t get enough of it – clean air, clean food, great education, safe environment … it’s, it’s paradise for them.

Halls:  What’s the appeal here in terms of Aussie property?

Chmiel:  Chinese buyers like Australian real estate especially over UK and US real estate given the Covid Crisis has hit the UK and US much, much stronger.

Klaric:  A lot of the mainland Chinese are seeing this as an opportunity to exploit a great deal because that’s what they are going to see in a property market for the next six months.

Halls:  Robert Cleric is a real estate industry adviser, and he has had his share of dealings with Chinese buyers now keen to buy up our properties during this Covid crisis which he says has seen prices drop by ..

Klaric:  Probably seen 10% during this period

Halls:  And then there’s been the fall in the Aussie dollar making our property far more attractive to overseas buyers.

Chmiel: That’s absolutely true.  It’s the Australian dollar is down 10% against some of the currency so that’s a nice buffer which people can include in their budgets.

Halls:  Lulu is fielding many Chinese inquiries ..

Lulu:  Yes, there’s always demand.

Halls:   On this house with its lovely harbour views –

Lulu:  And the Chinese people will always like Australia.

Halls:  And across town James at Morton Real Estate is much the same.

Crowe:  We have got lots of those clients who are certainly still in the market, and still keen to buy.

Halls:  This three-bedroom terrace he is marketing just walking distance to the city has caught the eyes of both domestic and international buyers prompting frustration from this local onlooker.

Australian Buyer: The Australian property is treated as an investment not as somewhere you live;  so unfortunately that has affected the market extensively.

Halls:  Robert Cleric believes it’s time Australia didn’t sell its property but long term leased it like Asian countries do.

Until then he says Australia offers Chinese buyers a wonderful security blanket.

Klaric: They have a lifestyle, they have freedom, and they can protect their wealth from the CCP, from the Chinese Communist Party.

SEARCH FOR ‘FOREIGN BUYERS THEY’RE BACK’ ON ‘A CURRENT AFFAIR’ 12 MAY 2020

(NINE A CURRENT AFFAIR LINK BLOCKED!)

VIEW A SHORT REPORT FROM BRADY HALLS:

https://9now.nine.com.au/a-current-affair/aussie-real-estate-reportedly-attracting-chinese-buyers-following-covid19-pandemic/498e9c93-f726-427e-bb6a-b832bac517dd

New apartments in the major capital cities have reportedly seen unprecedented sales and enquiries from wealthy Chinese taking advantage of our COVID-19 affected real estate market. (A Current Affair)