Australia is expected to be a major beneficiary of Chinese investments in 2014 reports the International Business Times.
The significant investor visa has already drawn some $325 million from some 65 Chinese millionaires who had qualified for the scheme. Their investments went to state government bonds, specific infrastructure and property investments mostly in Victoria and NSW.
Eyeing the potential influx, Realestate.com.au has launched a Web site specially targeted for the Chinese people. The web site was created to "facilitate property transactions" for the 46,000 properties listed, reports the IBTimes.
"We know that Chinese consumers have an enormous interest in property in Australia, Henry Ruiz,Chief Product Officer at REA Group said. The new Web site was created following the success of juwai.com which Australian expats and former REA group employees Andrew Taylor and Simon Henry set up in China in 2011.
Chinese are showing interest on properties in suburbs with local universities and schools nearby.
According the IBTimes report, more and more Chinese are expressing plans to leave their countries. A report from the research firm Hurun found almost two-thirds of Chinese with more than 10 million yuan in the bank have emigrated, or are making plans to.
“Wealthy Chinese moved 2.8 trillion yuan worth of assets offshore in 2011 according to a report from the Chinese think tank Center for China and Globalization - approximately three percent of the country's GDP for that year. Consequently, China's mergers and acquisitions in Australia jumped by 34 per cent in 2013 to $8.5 billion which was the highest level since 2009” The Australian reports.
Andrew Parker, the head of PwC's Asian said that there had been an increase in the share of total outbound investment to 15 per cent, compared with 12 per cent in 2011 and 9 per cent in 2012 among the Chinese.
"When you consider that China's investment in offshore markets may top $550bn in the next five years, the opportunity cost of not seeking greater engagement with China is clear,” he said.
I should become a real estate agent in stead of a migration agent 10 years ago.