Get ready for Chinese Golden week house hunt

China Golden Week is a week-long holiday in which most Chinese are free from work. The next Golden Week begins on 1 October - 7 October 2015. Chinese people call it the “Luxurious and Golden Long weekend”. Hundreds and thousands of deep pocketed Chinese buyers will fly to Australia to spend a fortune in hunting their favorite homes in Sydney.

Enquires surge before Golden Week

According to WooBuyers’ Chinese portals and social media platform, during last year's Golden Week, the number of searches by Chinese buyers looking for Sydney luxury properties on the site was up 62% before the holiday began. Mandarin and Cantonese speaking Chinese desk has received 73% more enquiries from offshore cashed up Chinese buyers who are looking to buy luxury homes in Sydney.

More than half (75%) of WooBuyers Chinese clients intended to buy Sydney high end properties within the next two to nine months from the price tag above AUD$ 3 million.

Chinese buyers celebrate falling Australian dollar

Credit Suisse estimates that Chinese buyers poured $8.7 billion into Australian residential property in the 2014 financial year, an increase of more than 60 per cent on the previous year with stronger demand to come.

CoreLogic RPData’s Cameron Kusher noted that the Australian dollar had fallen just over 13 per cent in trade-weighted index terms over the same timeframe. Couple a falling dollar with China’s wild share market, Australia becomes an even more desirable property investment destination — a safe haven and an increasingly cheap one.

In the Sydney harbour suburb of Mosman, 30 to 40 percent of sales over $3 million have reportedly been sold to Chinese buyers.

Plan Ahead

Chinese property buyers have a particular fondness for Sydney. They only have limited time while house hunting during the Golden Week period. They are quick decision makers and more than 50% of them are cashed up buyers, according to WooBuyer's high net worth clients database. Quality education and lifestyle are amongst major consideration. Luxurious properties in prime location with or without water view up-to 30 mins driving distance from CBD are also in their hunting list.

If you think your property would suit the Chinese interest and don’t want to miss this golden opportunity, please contact us on 0408 098 282 or email us to set up a confidential discussion. Always good to prepare early.

About WooBuyers

WooBuyers think differently. We are an innovative game changer and offer unique and extensive Chinese local and international property marketing Solutions . WooBuyers can help you to market your property or projects directly to China and be reached by cashed up & ready, rapidly growing High Net Worth Chinese Buyers. Quality and exclusivity are our core strength.

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