Secure living is the priority for Chinese
All those stereotypes about the Chinese are true - and that’s why they’re beating Kiwis on the property ladder, says Hamilton real estate agent Tony Tang.
Billboards plastered across the Waikato city advertise Tang as a Chiwi, or a Chinese Kiwi, cementing his proclaimed specialty in the market.
They [Chinese people] don’t have a flat white habit, they don’t head off to Europe on holiday and they don’t go drinking on Saturday nights, he says.
They work seven days a week, eat at home and they buy a house anywhere.
Less desirable suburbs will do, says Tang.
Tang says the Chinese culture emphasises both property and financial security.
‘‘My [European Kiwi] friends would prefer to buy a boat, buy a ute or go to Europe.
‘‘My Chinese friends are still going to buy a nice car, but they are going to secure their living situation first.’’
Chinese are taught to save their money, buy a house and build up from there, Tang says.
Tang first bought in Dinsdale, but Melville and other low-socio economic areas would have also done the trick.
He has since sold and moved up the housing ladder.
The Kiwi approach is different - they are using their money to enjoy life’s short term benefits.
The Chinese are geared towards saving and have a long term plan when it comes to their financial health, he says.
‘‘I know people who have worked seven days a week for the past three years without taking a holiday.
‘‘They are saving all the money they can.’’
Weidong Wang grew up in Harbin, a province in northern China, but moved to Hamilton to study at Waikato University.
While studying she met her husband, who coincidentally had also come to Hamilton from the same Chinese province to study.
‘‘When we got married it was important we had a house. ‘‘A place to call home.’’ So, two and a half years ago the couple bought their first home in Fairfield.
Planning out the financial future was an important step in life for the pair.
Even more so now they have eight-month-old daughter.
As a result of hard work, saving money where they can, and a bumper property market, they are now about to make their next move, hopefully into Flagstaff.
A house is seen as a safe invest- ment, Wang says.
‘‘Most of the Chinese, they think that the house is important.
‘‘It’s an important place for family, for a new family.’’
Weidong Wang and her husband bought their first home two and a half years ago, they are now selling and moving up the property ladder.