After a tumultuous year in markets, cashed-up Chinese investors with nowhere to go are tipped to make a significant return to Australian real estate.
While restrictions will primarily stop them travelling during the Lunar Festival, Asian real estate company Juwai IQI anticipates the holiday and pandemic will only accelerate the outflow of capital into overseas assets.
“Probably the most important season for Chinese overseas homebuying begins with Chinese New Year,” Juwai IQI Group co-founder and chairman Georg Chmiel said.
“China is battling a new wave of COVID-19, so China is encouraging people to stay home and not travel. With fewer people travelling and more at home, more will have the time and inclination to look at the overseas property.”
It comes after a particularly quiet 2020 for the Australian property market, as Chinese investors, students and tourists all stayed home.
