If you missed the OCT 2015 Golden Week marketing campaign with WooBuyers, and wondered when would be the next golden oppportunity, you are not too far away.
Almost 5.2 million Chinese went abroad during the previous Chinese New Year Golden Week in the spring, spending around US$22.4billion overseas.
Chinese buyers are ready to return to Australia in late Jan and early Feb 2016 - Chinese New Year Period for Year of Monkey.
2016’s Chinese New Year ‘Golden Week’ is a week's long public holiday in Early Feb, and it will provide great opportunity for international property sales in Australia.
Chinese Interest Continue
While housing markets across Australia are set to lose some steam in 2016, Chinese interest in Australian properties is to continue despite a short-term lull.
The number of Chinese investing in Australian property will not decline but the pace of their investments will slow, say property experts.
"They are taking stock but they are not putting the brakes on. It's not a long-term trend. They certainly grabbed the opportunities when they were there.
In 2013-14, China overtook the United States as the largest foreign investor in Australia at $27.7 billion, said the Foreign Investment Review Board. Property investments accounted for nearly half of that at $12.4 billion.
Chinese will find a way around
"Investments will moderate not fall." JLL Hong Kong's head of research Denis Ma said.
He said the Hong Kong example demonstrated the Chinese would "find a way around a barrier".
"When Hong Kong imposed a 15 per cent transaction tax on foreign investments, it did not deter the Chinese. You still see them in the market," he said.
Property investors go to Australia to diversify their businesses and investment. Sinking all their money into China is putting all their eggs into one "emerging market" basket. "They want investments in deep, mature, liquid cities such as London, New York, Sydney … to diversify risks."
" Sydney looks cheap compared to its nearest overseas market, Hong Kong ", Mr. Ma said.
"There could even be new players such as "powerful second-tier Asian family investors looking for core, prime assets".
"Chinese investment overseas will be a fact of life for the next 20 to 30 years,".
"They're not lying when they say they are going to be around for a long time."
We think Chinese interest will pick up again next year. While the new FIRB rules may put off some buyers, it will not put them all off.
Likewise getting money out of China will likely ease again, especially in the medium to long term as the Chinese Government continues to loosen controls on their currency.
Chinese New Year, which starts in early February 2016, may also see some Chinese buyers out of the market as they travel to be with family during the festivities.
China has an enormous population and increasing wealth. Not much of that needs to come here to impact on our relatively small market. Expect strong Chinese interest for years to come.
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Looking to anticipate in our next golden week marketing campaign, Contact our friendly team now. Here.