The Chinese are coming!
China’s emerging middle class are buying up big in off the plan apartments in the Sydney and Melbourne markets. One investor in Sydney bought $13m worth of apartments in the Central Park development. It is not only the Chinese but also Malaysians and Japanese. Why? There are a couple reasons, many Chinese in particular hold 2 passports – a Chinese and oversea’s passport and therefore seeking a second home to invest in, and secondly restrictions in the Chinese property market are leading to investors looking elsewhere.