CROMWELL Property Group … its Ordeal with a very persistent Chinese Property Developer/Raider seeking Acquisition of Strategic Assets

Chinese billionaire and former windsurfer Gordon Tang (left).

Chinese billionaire and former windsurfer Gordon Tang (left).

CROMWELL PROPERTY GROUP …

 IT would appear this is a prime example of why the Treasurer was motivated in late march by fears of Chinese companies taking over Australian businesses and reduced the threshold to zero for all bids

-these emergency changes will expire on 1 January when the new permanent changes will apply

WHEN one reads the report by Sarah Danckert, ‘The Chinese property billionaire eyeing Cromwell, the owner of sensitive Canberra assets‘ it is difficult to fathom how it is that the Takeovers Panel considers there is ‘no smoking gun’ evidence … despite the long list of events listed below:

 –a coup to unseat the chairman of Cromwell Property Group and supplant him with corporate raider Gary Weiss, a representative of Cromwell’s largest shareholder, ARA occurred in Autumn 2020

-everyone except Gordon Tang viewed the extraordinary general meeting; Tang has large holdings in China’s property companies, in Singapore and the United States

his closest connections include members of the Bush political dynasty

-his property portfolio in Australia is now being probed

-the Tangs are seeking control of a $2.1B real estate trust 

-* at risk a building in Canberra that houses the TGA, a 49% share in a building where the Dept of Defence is housed; and Qantas’ global headquarters near Sydney airport 

-the move appears to be ARA together with Tang to make a takeover offer without a full offer; pay other shareholders a premium; described as a ‘takeover by stealth’ 

-the Tangs have a $825M interest in Singapore listed Suntec REIT managed by ARA; SingHaiyi invests in ARA fund III and an ARA trust

-the Tangs gained an 8.8% interest in Cromwell in December 2017; now more than 13%  

-mid 2019 Cromwell excluded ARA with a $375M institutional placement which led to David Blight, the MD of ARA to leave the Cromwell board

-* ARA again pushed for shareholders to vote against a resolution to approve the placement; and to vote corporate raider Gary Weiss onto the board at Cromwell’s annual meeting in November

-although the Tangs grip was growing ARA did not succeed in its bid to have shareholders veto the placement, and have Weiss on the board 

-December 2019 Cromwell sought the Takeovers Panel declare ARA and the Tangs were acting together; controlling 37.4% combined stake yet not disclosing a takeover offer as required under Australian laws

-the panel threw the case out based on a lack of evidence

-March 2020 ARA attempted to install Weiss on the board; reinforcing Cromwell’s concerns about the Tangs and ARA

ARA again lost when Tang family holdings custodians failed to vote all the family’s shares in favour of ARA’s resolution

Weiss in response said that Cromwell continued to oppose his election to the board; why was Cromwell opposing appointment of its largest owner’s representative

-the Tangs reject claims they are working in concert with ARA

-Cromwell’s gearing remains at 40% within its stated 30 to 40% target range; that it was triaging risk across its European assets including in Poland; it has $670M in combined cash and undrawn facilities

-a company spokesman said the attacks on Cromwell were “particularly galling” given the relative performance of ARA’s own vehicles

-that ARA continues to agitate and attempt to destabilise even after Cromwell security holders have rejected their attempts to control Cromwell without paying a premium twice in the last six months

-Cromwell has offered to discuss a way forward; but these offers have not been accepted by ARA

-ARA has rejected further meetings with Cromwell until their nominee, Weiss is appointed to the board of Cromwell

READ MORE!   ‘The Chinese Property Billionaire eyeing Cromwell the Owner of Sensitive Canberra Assets’

https://www.smh.com.au/business/companies/the-chinese-property-billionaire-eyeing-cromwell-the-owner-of-sensitive-canberra-assets-20200604-p54zp8.html

Corporate raider Gary Weiss has twice been denied a seat on the Cromwell Property Group board.

Corporate raider Gary Weiss has twice been denied a seat on the Cromwell Property Group board.CREDIT:JESSICA HROMAS

To answer Peter’s Question Why there’s so much Influence from Our Big Neighbour …

To answer Peter’s Question Why there’s so much Influence from Our Big Neighbour …

‘The Australian’ in its report:

‘Andrews given nod by DFAT on China’

divulged that the current Ambassador to China gave the go-ahead to Victoria to sign on to China’s Belt and Road Initiative.

In May 2018 Graham Fletcher who was at the time a senior Foreign Affairs official advised the Victorian Government that its proposal to sign on to the BRI had merit …!!

FURTHER it has also been revealed in the ‘Sydney Morning Herald’ in ‘Belt and Road Advisory Board was stacked with people linked to CCP’ !

That is the board of an ‘Australian and Victorian Government funded Belt and Road Foundation’   …

Was the Victorian Premier set up?

Why was the website listing the board members removed?

Read more of this SMH report to find out who they are …!

This board was in receipt of $36,850 to provide advice to the Victorian Government in 2017-18 and 2019-20.

In 2016 it received $20,000 from the Australian Government.

Jean Dong, second from right, was involved in setting up the board that advised on Victoria's Belt and Road deal.
Photo: SMH: Jean Dong, second from right, was involved in setting up the board that advised on Victoria’s Belt and Road deal.

Ms Jean Dong, who, it was also revealed previously in The Australian in the story, ‘Advisers secret link to States Agreement on Belt and Road’

https://www.theaustralian.com.au/nation/advisers-secret-link-to-states-agreement-on-belt-and-road/news-story/1b6697615e166010a3376ddb2b8e1330?fbclid=IwAR00m9fSJ2cZ3idtX8XW1GMGdmZAnuVZePEnjw_8e3CmvjngyzgDlHrPWxc

was the founder of the Melbourne-based Australia-China Belt and Road Initiative company was awarded two taxpayer-funded contracts in 2017-18 and 2019-20 totalling $36,850 to advise on China’s global commercial play.

Ms Dong was present at the signing of the Australia-China free-trade agreement in 2015 and recruited former federal Liberal trade minister Andrew Robb and former Labor finance minister Lindsay Tanner to the company’s advisory board.

NOW where should the torch light be shone? 

IT would appear that DFAT was sending mixed messages when also to the contrary it raised concerns about China’s influence in the Pacific since 2017.

YET the Australian Government has allowed the Foreign Investment Review Board (FIRB) to operate and allow all but five ‘foreign acquisition’ applications

Including ‘John Holland’ … ffs …

AND Australia’s residential property sector is awash with ‘black money’ …. As CCP operatives buy up our real estate … including the City of Chatswood … and this is being repeated along the rail lines and highways out to Epping … Ryde … Carlingford … up the line to Roseville, Lindfield and Killara, the Northern Beaches Peninsula … and the Wollondilly …

IN response to the Pandemic Lockdown the leading Australian (PCA) and NSW (UT) developer lobby organisations push for ‘more’ high immigration (and visa manipulation) to ensure their profit margins with the FIRB ruling allowing this sector to sell 100% of new homes to foreign buyers!

DESPITE this and more … Mr Dutton said:

“We have got to ask why this is happening and why is this influence taking place in our country and elsewhere,”

PRIOR to the Pandemic CCP members were flying into Australia numbering 50,000 a week!

-Numerous residential apartment towers are built by Chinese developers

-Chinese state-owned companies now own much of Australia’s power, mines, transport, dairy, beef cattle stations, vineyards, large agricultural properties, commercial property, Health care, Ports including Darwin

Chatswood is being built by CCP money …

DOES it seem that China is all too omnipresent?

Read more: ‘Belt and Road Advisory Board was stacked with People linked to CCP’

Peter Dutton called on the Victorian Premier to release all correspondence with the Chinese government dealing with the BRI agreement.
Photo: SMH: Peter Dutton called on the Victorian Premier to release all correspondence with the Chinese government dealing with the BRI agreement.CREDIT:ALEX ELLINGHAUSEN

Part 4 … More about enabling the Mega Rich Foreign Buying Spree in the North Shore!

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CAAN Photo second major residential apartment development on Lindfield Avenue opp. the railway line; next to the emerging Mayrin Group ‘Refined’

Our wander in Lindfield continued on both the western and eastern sides of the railway line.

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CAAN Photo: ‘Refined’ now under construction is now towering over this quality apartment development built in keeping with the local character. The residents have no choice but to put up with the noise and air pollution, and loss of amenity obviously!

IN Lindfield Avenue on the East side … where there have been recent $6M home sales to mega rich buyers from Hong Kong, Taiwan … more major residential apartment developments are underway including ‘Refined’ by the Mayrin Group. 

This developer has appointed Northpoint as the builder of this project.

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CAAN Photo: ‘Refined’ by Mayrin Group fronts onto Lindfield Avenue, Lindfield

WHEN one searches to find out more about the Mayrin Group the following information appears on their website:

Propelled by our vision, Mayrin Group reshapes and revitalises communities. … ‘

AND …

‘An inspirational and leading property development company working in Australia and internationally, Mayrin Group creates harmonious spaces for living, working and relaxing that are planned in an integrated manner to create vibrant and sustainable communities.’

BUT no link providing company information?  No information about the Board, the company management …

HOWEVER, there is an invitation … it reads:

“Impressed?

You can contact us or browse our projects”

With a phone no. and/or email address provided …

SO we looked further, and found this article from the Australian Financial Review, ‘Sydney developer Mayrin pays $35M for townhouse site’ where in fact we found more of what we were looking for!

Reporter, Larry Schlesinger describes Mayrin Group as a  Chinese-backed Sydney developer.  In this report we learn about a group of Roseville home owners uniting to sell out to an overseas developer to make a motza! 

William Wu, director said the development would deliver 40 townhouses close to the (CCP) Chatswood!

In 2017 Mayrin had three high-rise developments underway in Parramatta, Rouse Hill and Sydney Olympic Park (1000 apartments);  the company is owned by Jing Wang.

The nine home sites in Roseville were sold through ‘SAVILLS Australia’ … Savills has an agency in Lindfield.

THUS the ‘Silent Invasion’ is well underway …

Read more … note also reference to JQZ closing a deal in St Leonards (the developer of Prime in Macquarie Park) …

https://www.afr.com/property/residential/sydney-developer-mayrin-pays-35m-for-townhouse-site-20170918-gyjoj3

AS neighbours unite and sell out in mega sites they rob their neighbours of the amenity that they have paid for …

AND as this sector bribes more and more home owners and communities to sell out … it is enabling the expansion of the CCP out from Chatswood!

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CAAN Photo … who is moving in?
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CAAN Photo; Savills Lindfield

View this report on Chatswood from David Lee, a Geopolitical Strategist; Chatswood is being built by the CCP!

https://caanhousinginequalitywithaussieslockedout.com/2019/09/01/a-geopolitical-strategist-on-the-mk-hong-kong-the-u-s-and-australia/

SHARE!   Tell others … and notify your local MPs by email … ask them what they propose to do about stopping the ‘Silent Invasion’ …

LIKE CAAN ON FACEBOOK!

https://www.facebook.com/Community-Action-Alliance-for-NSW-744190798994541/?ref=aymt_homepage_panel

CAAN WEBSITE:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

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)

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

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)

Foreign Buyers ‘Investment’ with the Focus on Victorian Residential Property

KEY POINTS ON FIRB APPROVAL OF FOREIGN PROPERTY BUYERS OF AUSTRALIAN RESIDENTIAL PROPERTY

IT is alleged that there has been a fall of $24B over recent years from Chinese buyers … but

It seems they have not really gone away …

-the FIRB gave approval to foreign buyers to spend $3.9B on Victorian

Housing in the 2018-19 financial year

-a reduction of $24B from that of 3 years earlier

-Chinese purchases fell more than 50% year on year in residential and commercial property; its lowest since FY 2012-13 (FIRB annual report)

-$6.07B Chinese spend approved by the FIRB in 2018-19; US at $19.56B; Canada $13.3B; Singapore $9.8B; and Hong Kong $9.33B

Query … are all these investors native to the US, and Canada?

-Juwai predicts a Chinese comeback in 2020; Melbourne the preferred destination

-Victorian property most sought after by foreign buyers in 2018-19

-peak reached in 2015-16 of $28B

-3163 approved applications to buy new and established homes, vacant land and properties for development worth $3.9B represented * 42% of Australia’s 7513 purchases worth $14.8B.

with Queensland 343 approvals worth $1.3B and New South Wales 1337, $3.1B

-across Australia a fall of 2523 authorised purchases annually; the total value rose $2.3B

CAN you believe that the fall in approvals was due to:

foreign investment application fees

state taxes and foreign resident stamp duty increases

That the UHNW and High Net Worth from China would be concerned about small percentage increases in fees?

TRUE … China imposed capital controls that is what created the plunge! However, they were lifted in 2019

VIEW: ‘Foreign buyers: Billions slashed from offshore investment in Victoria’

https://www.news.com.au/finance/real-estate/melbourne-vic/foreign-buyers-billions-slashed-from-offshore-investment-in-victoria/news-story/0acd27b1565354ed885812038466c254

US buyers have overtaken the Chinese as the biggest foreign investors in Australian real estate.
US buyers have overtaken the Chinese as the biggest foreign investors in Australian real estate.Source:AFP

CAAN: SERIOUSLY? Where are they? Are they ‘Chinese Americans’ …..?

LIKE CAAN ON FACEBOOK!

https://www.facebook.com/Community-Action-Alliance-for-NSW-744190798994541/?ref=aymt_homepage_panel

CAAN WEBSITE:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

What led to the decline in Home Ownership? Really …

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CAAN Photo: WeChat through which much communication is made

A WORRYING CABAL BETWEEN TWO SECTORS

  • The Property Sector
  • The University/International Student Sector

‘They will dress it up talking about National Income … GDP and Exports … but really it has nothing to do with that.

IT IS SELF INTEREST!

The Big Players wanting more of the PIE! 

And sustaining their market share, their BIG Profits and their influence in our Geopolitical Hemisphere.

There is nothing ‘egalitarian’ … nothing ‘high minded’ about it!

IT is strictly about money and strictly about THEM AND THEIR PIE!

MEANWHILE …

-there is a need to build 200,000 Social Housing Dwellings for Australians

-are the firestorm victims still living in tents and shipping containers?  A.  Yes!

-what of the whole Cohort of Australians Gens X Y and Z locked out of home ownership in their own country?

SO why isn’t the PROPERTY SECTOR addressing these needs?

WHY does The Cabal want ‘Foreign Buyers’ and ‘Foreign Students’ back? 

DESPITE the threat of a second wave of the CoronaVirus?

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CAAN Photo: Wahroonga however all over Sydney huge developments like this are housing foreign buyers particularly from China; some buying more than an apartment at a time even a level of a development. How many are already here having gained ‘Permanent Residency’?

AND NSW INC is now to fast-track shovel ready high-rise projects

-Victoria’s leading residential building mob is lobbying the government to open the border to encourage overseas buyers … is this about ‘Hot Money’ to burn on Melbourne property?

-Chinese corporate investors are already “bargain hunting”

WHY do experts deny there will be a ‘red tide of cash overwhelming Australian assets’ as this peak body calls on these ‘foreign buyers’?

Then the leading economist of realestate.com.au puts that offshore buyers would be seeking Australian development sites and industrial properties, and that international investment groups with assets worth $Billions are expected to lead …

IT appears the imminent threat of the ‘flying Pegasus’ buy-up invasion is beyond the comprehension of this Mob …

RELATED ARTICLES …

The impact of foreign money upon our Youth

https://caanhousinginequalitywithaussieslockedout.com/2020/05/04/what-has-the-pandemic-meant-for-gens-x-y-and-z-and-their-prospects/?fbclid=IwAR3vMaV76F8YwJxDSgiuNuK2pvb8AtNzXiJZ2r_72oyH199awnVNV1VYLKM

Need for 200,000 social housing dwellings

About the Cabal pushing for foreign buyers

https://caanhousinginequalitywithaussieslockedout.com/2020/05/02/who-are-most-concerned-about-the-pandemic-immigration-freeze-and-why/?fbclid=IwAR0Oup1X_OnRNPASID7X3LQFy75Mqbnfw4jLg0b07l_vs3DtASAOXukVpt8

lobby groups behind vast numbers of international students

From Macro Business ‘International Student Lobbies are treasonous’

Read more: https://www.macrobusiness.com.au/2020/05/international-student-lobbies-are-treasonous/?fbclid=IwAR2UVrDo8CUvWWiOokB8fSLB-lVQt8R6lxYidDwxWdS27B_BiiWhPxGA0Eo

READ MORE!

https://www.news.com.au/finance/real-estate/melbourne-vic/covid19-call-for-foreign-investors-to-be-encouraged-to-help-rebuild/news-story/fd4e7808b63045d5c514bafc39b50ffd

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CAAN Photo: ‘The Old Side of Hornsby’ shopping strip it appears is largely being taken over by ‘investors’ from China. Buying up big and small businesses … buying up suburbs … esp. along the Metro route