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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