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AU South Australian property agents target Asian markets

Property Here - Saturday, May 04, 2013

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Bargitta Zhao and Sarah Pan

Agents Bargitta Zhao and Sarah Pan, in Prospect, liaise with Chinese buyers seeking property in Adelaide. Picture: CALUM ROBERTSON Source: adelaidenow

REAL estate agents are targeting the Asian market as Chinese investors buy up prestigious Adelaide properties.

Today's Advertiser  real estate magazine features Mandarin translations for three Harcourts Ouwens Casserly top-end properties.

Director Alexander Ouwens said Google Analytics data showed Chinese interest in Australian real estate websites was up 60 per cent on last year.

"This is based around the strength of the Significant Investment Visa scheme and we've noticed an increase in the number of Chinese purchasers at inspections and those actually purchasing properties," he said.

Mr Ouwens said Chinese buyers targeted homes with specific features and The Advertiser's real estate magazine made it easier for them.

"Chinese buyers have very different criteria to Australian buyers such as feng shui, having the right number in the address of the house, (and) the way that the house faces," he said.

Harcourts Ouwens Casserly has hired two Chinese agents to bridge the language gap and secure Chinese buyers for top-end properties.

"The legislation and laws for buying property are different between Australia and China and it's really foreign to them to navigate the Australian property maze, so this is to make them comfortable in making their acquisitions," Mr Ouwens said.

"These two agents deal with properties right across the board but slightly more focused on the top end, given the Significant Investment Visa requires them to spend a substantial amount of money and the flow-on effect for that has been them buying accommodation for their children who are studying in Adelaide."

Real Estate Institute of South Australia chief executive Greg Troughton said that Chinese investment in Adelaide property was at a high.

"There are a lot more millionaire investors in China than there are in Australia and they're always looking for opportunities and we should be welcoming this sort of investment with open arms," he said.

"The property market in SA hasn't exactly been swinging from the chandeliers and the importance of having that overseas investment probably amplifies that."

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