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  1. #1

    Default Chinese-fuelled Melbourne Property Boom

    Foreign property investors, particularly cashed-up Chinese from the mainland, are believed to be playing a big role in the current property boom in Melbourne. One Chinese investor bought his latest property yesterday (just a cheapy at AUD$712/NZD$929), which makes his 150th property just in the suburb of Doncaster alone, let alone whatever other properties he already owns in other Melbourne suburbs!

    So how long till the cashed up Chinese start looking across the ditch to see what NZ has to offer?
    Last edited by ozharp; 18-04-2010 at 02:17 PM.

  2. #2
    Join Date
    Dec 2007
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    Default

    Already here. I was at an apartment auction a couple of weeks ago and there were Chinese buyers bidding sight unseen.

  3. #3

    Default

    If I were a multi-millionaire in Mainland China I too would be getting my money out of there.

    GDP growth at 10% plus, instead of being a measure has now become the objective.

    " Danger Will Robinson, Danger "

    SB

  4. #4
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    Mar 2005
    Location
    Qld
    Posts
    42

    Default

    Quote Originally Posted by ozharp View Post
    Foreign property investors, particularly cashed-up Chinese from the mainland, and believed to be playing a big role in the current property boom in Melbourne. One Chinese investor bought his latest property yesterday (just a cheapy at AUD$712/NZD$929), which makes his 150th property just in the suburb of Doncaster alone, let alone whatever other properties he already owns in other Melbourne suburbs!

    So how long till the cashed up Chinese start looking across the ditch to see what NZ has to offer?
    Ron Hoy Fong has been investing in NZ for some time now- he looks Chinese.

  5. #5
    Join Date
    Mar 2005
    Location
    Qld
    Posts
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    Quote Originally Posted by ozharp View Post
    Foreign property investors, particularly cashed-up Chinese from the mainland, and believed to be playing a big role in the current property boom in Melbourne. One Chinese investor bought his latest property yesterday (just a cheapy at AUD$712/NZD$929), which makes his 150th property just in the suburb of Doncaster alone, let alone whatever other properties he already owns in other Melbourne suburbs!

    So how long till the cashed up Chinese start looking across the ditch to see what NZ has to offer?
    The above claim was also on somersoft, it may have been made up- no source listed.

  6. #6

    Default

    Quote Originally Posted by younginvestor View Post
    The above claim was also on somersoft, it may have been made up- no source listed.
    The poster of the message explained that he was told this by a real estate agent who was not prepared to give confidential details about his client to others. Suit yourself whether you believe it or not, but the very heavy investment by mainland Chinese in to the Melbourne property market is very real.

  7. #7
    Join Date
    Jun 2007
    Location
    North Shore
    Posts
    72

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    Quote Originally Posted by AMR View Post
    Already here. I was at an apartment auction a couple of weeks ago and there were Chinese buyers bidding sight unseen.
    AMR is right. At the beginning of the year I wrote down a list of 2 and 3 bedroom houses in decent areas of the Shore that were listed on TradeMe with an asking price. I checked these same properties several months later on RPNZ and found most of them had sold 20-30k below asking price, ALL of the buyers had Chinese names apart from two which were Indians.

  8. #8
    Join Date
    Apr 2005
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    2,701

    Default

    Posts about Oz should not really be put here in the NZ section.

  9. #9
    Join Date
    Dec 2007
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    Default

    Not sure how reliable looking at the surname is. There are New Zealand Chinese like myself who are as broke as everyone else, and then there are mainlanders backed by easy Chinese credit.

    The thing to watch for will be Auckland apartments being sold at a Shanghai expo.
    Last edited by AMR; 18-04-2010 at 05:09 PM.

  10. #10
    Join Date
    Feb 2005
    Location
    Auckland
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    Quote Originally Posted by AMR View Post
    Not sure how reliable looking at the surname is. There are New Zealand Chinese like myself who are as broke as everyone else, and then there are mainlanders backed by easy Chinese credit.

    The thing to watch for will be Auckland apartments being sold at a Shanghai expo.
    Have just come back from an Intrepid trip around China,

    The Shanghai Expo is not quite what you think it is

    It is not a Trade Show

    It is more an Exhibit Show of each country

    The NZ pavillion promoted a way of life as did other countries and pavillions, Culture, art, clean grean, family, food, Haka, sheep, Bush/Forest, Education, history, etc

    Only thing missing was an application form for immigration on your way out.

    So expecting to be sold an appartment off the plans would be the wrong place.

    Cheer Ron
    (Ronovation Ltd)
    Last edited by RonHoyFong; 06-07-2010 at 12:38 PM.


 

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