Optimism rife on the home front
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.”