From all account i have heard on the news Sydney real estate has topped. Chinas GDP growth still at a whopping 6.7% per annum. Tremendous gains according to all my relos over the last 10-15 years? Is it time to sell my ips here and invest in Shanghai Beijing and Guangzhou? I know a lot of PCers here are chinese. What are your thoughts??
No way I’d risk more than a few bucks in a country that’s so, so far from legal / economic / political / cultural maturity. Quite unsurprisingly, gutting your country of intellectuals for decades tends to plunge your country into darkness. If you want to invest in “China” invest in Hong Kong. There’s a reason why anyone who can afford to will try to get themselves and / or their money out of there.
We did the opposite. We've made some significant gains in our Guangzhou and Shanghai properties over the last 5 years and not long ago sold off some of our assets in China to invest in Australia.
hmm yeah from what i hear the growth was crazy like 1000% over 10 years? maybe i have missed the boat damn but i guess Sydney didnt do too badly maybe about 125% over 10 years. Peanuts in comparison though wish i invested in china instead i could buy mansion in rose bay now lolz
No, foreign property purchase is restricted in China(ironically). From affordability perspective a one-bedder in a nice location in one of the big cities in China is around the same price of a four bedder in inner suburb of Melbourne.
For those Aussies who are toying with the idea of buying IPs in China, there is no law prohibiting a foreigner from owning a property there, but the fact is you will never be able to do it in reality as the bureaucracy will forever keep you far far away from achieving it. There is an American youtuber called "Laowhy86" who lives in China he talks about this in one of his videos. He ended up having his Chinese's wife's name on the title as the sole owner when he was the one who paid for it
If she is his wife, then they paid for it, not just him. There is no his or her money once your married.
Don't know if the divorce court will grant him half the ownership if they really divorce one day given that he is a foreigner. Things are more vague over there.
Yes true, I was more coming from an Australian perspective. But I agree with you its a lot easier to be able to purchase real estate there if your partner is a native. In China, 'connections' or as they call it 'Guanxi' is still very valuable. My partner needed to renew an important document which required her to be in China and jump through a few hoops since she's been away for some years. But her family had connections with the local police... was all sorted in 3 days and she didn't need to leave Aussie soil.
Unlike the US where you must be on American soil to Lodge some paperwork - colleague had to go to Hawaii to lodge dual citizenship application.
Yeah definitely a pain to have to go all the way to Hawaii. ... We had to get this document done otherwise when her family pass away it would be a very long, difficult and costly process to receive their assets.
There's more and more talk of looking at other country property now, i assume partly due to the rate environment in Aus (macro rate rises should mean property as an asset class doesn't perform as well as it once has done). Most of the world is in a similar rate environment, with a few exceptions here and there. Definitely worthwhile exploring, especially for cash investors that don't need finance/leverage. Not sure if China is the place to put the eggs though. Capital controls are a bit of worry too (taking money out!).
Personally ...any idiot who puts money into China are just that idiots.....there is no rule of law like Australia...I would rather stick to Australia. Besides....the growing bubble in China is a serious concern compared to average earnings...reminds of Japan in the 80s....