Chinese market doesn’t sleep, says Ellis

While Australia may be winding down over the holidays, the opposite is happening over in China, Mr Ellis says.

“For developers looking to tap into the huge Asian buyer market, the time to formulate relationships, educate and condition the market is now,” he said.

“Our team is flat out keeping up with the level of enquiry we have from our network partners seeking new properties to fill their clients’ briefs.”

According to FIRB’s latest annual report, the value of approvals for foreign investment in Australian real estate increased 75 per cent last financial year to $61 billion, with Chinese accounting for around two-thirds of applications.

Mr Ellis says exposure to Chinese buyers is critical. He says that in early January, due to less competition, the numbers are still likely to be on the developer's side.

This year marks the earliest Chinese New Year for the past five years; on January 28, 2017.

“The New Year holiday is the most important annual festival for people of Chinese ancestry all over the world,” Mr Ellis said.

“Real estate purchases are also top of mind for many people seeking new homes, fresh starts or investments. It is also known as ‘Golden Week’ by property professionals for this reason, given so many Chinese make purchase decisions during this time.”