Chinese New Year home-hunting surge tipped for Perth

Original Source: Link

UP to 10,000 Chinese tourists are expected to come to Perth this week and many are being tipped to make the most of Chinese New Year celebrations to scour the State’s property market.

Leading Chinese international real estate website Juwai is predicting a home-hunting bonanza, with the seven-day national holiday viewed as the ideal time to scope out potential investments.

Juwai chief executive Carrie Law said the number of January searches on the website for property in Perth were nearly double the previous three-month average.

Data from realestate.com.au shows Chinese searches for the six months to February had increased 15 per cent on the same time last year.

The most searched suburb was East Perth, followed by Willetton, Nedlands and Innaloo.

On Juwai, the most frequently searched suburbs were all central, including the CBD, South Perth, Crawley, East Perth and West Perth.

“Features that tend to characterise suburbs that are popular with Chinese buyers are good primary and secondary schools, proximity to universities, convenience to the city, water views, and availability of new-construction houses or apartments,” Ms Law said. “You can sum it up this way: Chinese buyers like what everyone else likes, but with an extra emphasis on education and new homes.”

The 2018 Perth Chinese New Year Fair comes to Northbridge next Sunday from noon to 9pm.

Among those welcoming in the year of the dog will be members of WA Shar Pei Protection.

The ancient dog breed originated in China more than 2000 years ago.

Most searched suburbs by prospective Chinese buyers on realestate.com.au (six months to February 2018)

1. East Perth (more than 380)

2. Willetton (more than 270)

3. Nedlands (more than 230)

4. Innaloo (more than 210)

5. Doubleview (more than 180)

6. Subiaco (more than 180)

7. Hocking (more than 150)

8. Morley (more than 140)

9. Mandurah (more than 110)

10. Heathridge (more than 100)