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Victoria popular with Chinese property buyers

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It's really no secret that Chinese investors have lofty real estate ambitions when it comes to overseas property, with a substantial number of purchases made last year.

While many are heading into places like Sydney, a significant number would appear to be focused on property in Victoria. Realestate.com.au recently detailed this trend, noting that as members of the Chinese population "ring in the Year of the Goat", Melbourne is the first choice for investments.

This can be attributed to several factors, but Chinese students studying at local universities was a leading element, along with established Chinese communities in suburbs such as Glen Waverley and Mount Waverley.

Realestate.com.au noted that search results on property portal myfun.com, which has listings in Mandarin, were particularly high for these areas.

In addition, proximity to renowned schools was another leading factor - with both Glen Waverley Secondary College and Mt Waverley Secondary College driving property prices.

"There are two of Victoria's best state schools in Glen Waverley Secondary College and Mt Waverley Secondary College, along with two of Melbourne's best private schools - Wesley College and Caulfield Grammar - having campuses in the area," Damian Moore from Ray White explained.

"It's also halfway between the city and the hills but retains a cosmopolitan atmosphere with over 100 cafes and restaurants in the area."

Both Melbourne and Victoria are likely to see property investments continue climbing over the next few years, and investors will need to start considering their options.

With property purchases from China on the rise, it's a good opportunity for those involved in the market to consider further investments. Of course, this is an excellent opportunity to utilise investment appraisal software, which is especially useful for commercial property.

Date Published: 24 Feb 2015
Category: AsiaGeneral NewsNews

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