Yep I got friends there who have cleaned up well in real estate. Demand is huge and supply is extremely tight.
I'm not so sure about that tbh. You'd be surprised (not that I know first hand) of the things that go on there.
Oh no. There is will there is away. In particular HK is just next door. Not hard to move things just next door.
Whoever gets Chinese and Indian money ( to the same degree Sydney and Mel did) in the future will boom more than Sydney. Other than Sydney and Melbourne, other Australian cities are much much smaller so it takes less money ( black, white, green, whatever the colour) to significantly move that market.
Not many transactions in secondary market as a lot of new stock coming on. After under the table rebates etc. new prices are not much more than secondary apartments. New also offer financing not subject to stricter lending requirements the bank needs as the developer organises for you. As an economy it has been heading downwards for a while but does not mean property prices will drop (most people pay around 2% interest rates). No longer a gateway to China (it's opened up) and finance is not what its used to be (tech companies have replaced them for relevance). No manufacturing, no tech companies and at least Australia has agriculture and mining. More about servicing existing residents and try to attract rich to live/spend there (like every other country)
That really only leave Australia (Sydney and Melbourne), Canada (Vancouver mainly) and UK (London and bigger cities)? These would be where the Chinese and Indian want to go - good education opportunities, safe (relatively less discrimination) and good passport status...?
Anybody watches the latest Million Dollar Listing LA ? - man chinese guys throwing big money in the US. One paid USD26 mil for a house in Bradbury Estate (all cash) Seems like no problems to move money for the upper class
Upper class won't have any issues. They are all very well connected, and even if they are not..their money will easily buy safe passage of capital. Been like that for ages.
Yes, and all those cities you mentioned have been huge beneficiaries of that money. I am not sure if that will continue to the same extent. They will still be the biggest recipients dollar wise, but perhaps not ad much as say 5 years prior. I'd think that volumes ( dollars) will stay steady, but other emerging destinations ( eg tier 2 in Australia and overseas) will have a larger influence.
Watched it. Not surprised. There is always a way to get the money out. I know ppl doing the same with little issues.
nah just your expert predictions for the last 2+ years didn't really go anywhere. when it booms - then we'll talk.
there are ppl here who do it all the time, go to some chinese village and get a 100-200 ppl to do transfers each. no biggie.
I travel to China a few times a year and the stuff/opportunties that's going on there is nothing short of amazing. I have a Chinese friend over there who said to me, quite funny actually, " Adelaide is to Sydney what Sydney is to China. Only amplified 100 times. "
There was minimal government regulation for a long period, stamp duty was introduced as an after thought... by then it was too late. Supply is also a problem simply due to population/land availability.
