According to a leading real estate advertising company, Hong Kong people in China have more inquiries about Melbourne’s East Side real estate than any other country. The REA Group confirmed that Hong Kong people have increased their enquiries and searches for Monash properties. Nerida Conisbee, chief economist at realestate.com.au, said real estate search in Monash and Whitehorse is dominated by Hong Kong people. “In the past 12 months, Hong Kong people accounted for nearly 25% of all (international) searches in the region. “.
“Glen Waverley and Mt Waverley are the most frequently searched places,” she said. “In the past month, Hong Kong people’s search for properties across Australia has risen significantly.” But this search has not yet translated into sales. Julie Karl, senior regional manager at Biggin and Scott, said that although Hong Kong residents may be looking for a property, it is not easy to pack. “Only those who have already obtained permanent residency will consider buying a house immediately,” she said. Other factors that may affect sales include frequent poor quality of the building – such as Opal and Mascot apartment buildings, and residents from the Mordialloc apartment building. Evacuation – plus taxes on foreign investors who do not have permanent residency. Carl said, “There are many factors to consider for Hong Kong people to come here. Now they are just talking about it, but there are some technical details.”
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