The Courier-Mail

CHI­NESE BURN

Op­ti­mism rife on the home front

- SO­PHIE FOSTER

THE fall in the Aus­tralian dol­lar will take the edge off for Chi­nese real es­tate in­vestors reel­ing from a near-2 per cent drop in the yuan.

Ausin Group, a spe­cial­ist Chi­nese mar­ket firm that opened a Bris­bane of­fice this year, ex­pects con­tin­ued strong de­mand in Bris­bane.

“The Aus­tralian dol­lar has fallen ap­prox­i­mately 20 per cent in re­la­tion to the US dol­lar,” man­ag­ing di­rec­tor Joseph Zaja said. “Our pur­chasers or clients in China are bet­ter off so a 2 per cent de­val­u­a­tion in cur­rency is not go­ing to have an im­pact at all.”

Sun­ny­bank-based real es­tate agent Tom Zhang, of Yong Real Es­tate, said the de­mand was strong enough that the yuan de­val­u­a­tion would have a lim­ited ef­fect.

“The de­mand is strong enough to with­stand such a de­val­u­a­tion be­cause the Aus­tralian dol­lar is still cheap com­pared to a few years ago,” he said.

“Aus­tralia is seen as more sta­ble and the real es­tate mar­ket here is al­ways grow­ing.”

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