Se­cure liv­ing is the pri­or­ity for Chi­nese

Matamata Chronicle - - Property - AU­DREY MALONE

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.’’

CHRIS­TINE CORNEGE FAIR­FAX NZ

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.

Newspapers in English

Newspapers from New Zealand

© PressReader. All rights reserved.