admin-ajax.php

Look what Chinese investors are buying now

We all know that Chinese investors having been underpinning the off the plan inner city high rise apartment market but now they’re been sold a different type of under performing property.china real estate

Melbourne developers are selling unsuspecting Chinese investors house and land packages in the outer suburbs, Nigel Satterley has warned.

According to BRW richlister and property developer Nigel Satterley between 4,000 and 5,000 lots – about 20 per cent of the market – were being sold into the Chinese market every year.

Slattery told The Australian Financial Review:

“Developers are over-selling house and land packages into China. Some of these deals will not proceed because of tighter bank funding to overseas buyers,”

While the major banks’ pull-back from lending to the apartment market has been widely reported Mr Satterley said funding was also drying up in the land market and many purchasers are running into funding trouble.

“Ninety per cent of Chinese buyers want funding from a local bank,” he said. 

investor-enquiry-form

At Metropole we have always steered clear of buying house and land packages in the outer suburbs.

While these may be great locations to bring up your family, these properties are not what we call “investment grade.”



icon-podcast-large

SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

icon-email-large

PREFER TO SUBSCRIBE VIA EMAIL?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Avatar for Property Update

About

Kate Forbes is a National Director Property Strategy at Metropole. She has 15 years of investment experience in financial markets in two continents, is qualified in multiple disciplines and is also a chartered financial analyst (CFA).
Visit www.MelbourneBuyersAgent.com.au


'Look what Chinese investors are buying now' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*

facebook
twitter
google
0
linkedin
0
email

Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!