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Chinese buyers tower over Australian real estate; 2014, the Bears have lost.
Topic Started: 20 Dec 2013, 09:17 AM (4,538 Views)
Black Panther
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Your Destiny Bears ... you should of followed the advice the Bulls gave you.

Now you need to accept your fate. The bottom of the market is every day for the next 5 years. Now you will pay much more for waiting for a crash.

Or perhaps learn Mandarin so you can communicate with the new class of landlords who are aiding the market transmutation.

You guys blew it big time. I suppose you are all going to be waiting for an inheritance to save your bacon, like Moopsy. How impotent you all are.

Merry Christmas.

Quote:
 
Chinese buyers tower over Australian real estate

Where China spends its vast $US3.7 trillion foreign reserves is going to dominate asset prices and developments around the world.

Right now apartments in Sydney and Melbourne are in favour with the Chinese. And Brisbane is also gaining support.

As a result, our two largest cities have cranes dotting their skylines with large numbers of projects in the planning stage. Most of the apartment developments are being built on the back of Chinese demand.

Our new editor of China Spectator, Peter Cai (蔡源), points out that that in just over four years China’s foreign exchange reserves have risen from $US2 trillion to $US3.7 trillion and China is looking to diversify its spending (Cashed up China Inc needs to spend, December 5).

While a lot of the Chinese demand for Sydney and Melbourne apartments still remains related to parents or relatives of Chinese students in Australia, buying from Chinese investors not connected with students is increasing.

I don’t think it will be long before we see a large tower completed and locked with no occupants. China has countless towers in that category and there is no reason to believe that, in time, the Chinese will not follow the same pattern out here.

Joining the Chinese are Australian investors. They include some self-managed superannuation funds but the predicted avalanche of superannuation investment has not taken place.

Of course running a bad third are young Australians. Although interest rates are low, they are being priced out of the apartment market or are reluctant to take on large amounts of debt. Many don’t care whether they own a dwelling or not.

Sydney’s largest apartment developer Harry Triguboff says the biggest price booster is the way that the department of planning and local councils approve projects, which holds up new developments by at least one or two years.

This forces the developers to have high holding charges, which boosts prices. In addition it creates uncertainty in the outcome of applications so does not allow enough units to be produced, which again causes costs and prices to go up.

In Melbourne there are similar problems but the real price booster is union work rules on large projects.

The high costs of apartments and the desire for conventional dwellings is kindling higher demand for outer suburban houses in most eastern states although Melbourne remains sluggish.

We are headed into a society that is very different to anything previous generations have experienced. The home ownership dream is fading, at least in the inner city, and is increasingly being replaced with a tenant relationship with Chinese landlords.

http://www.businessspectator.com.au/article/2013/12/6/china/chinese-buyers-tower-over-australian-real-estate
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jesusjones
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http://m.theage.com.au/domain/real-estate-news/chinese-buyers-in-rush-for-melbournes-prestige-school-zones-20131219-2zmbn.html

I think this could continue for a few years yet, doesn't matter how gloomy the job situation gets prices in the major cities will just keep going up. "1.5 million unique visitors a month" - do they mean new visitors? if so that's a lot!! With immigration its been touted as 440k people per year, anyone know what % these are Chinese?

I work in Neutral Bay and the Real Estate men are always smiling, but they all look odd/false.... perfect teeth , botox, they all have waxed eyebrows and look like something from star trek, the cars have got nicer, the hot chicks working there (nearly all blonde) have huge smiles also, perfect bodies, nice clothes, gucci hand bags, their tits are getting bigger also!! these guys are making a fortune.
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This article is the exact kind of tripe I expect from a news corporation subsidiary. Talks of Chinese foreign reserves and nothing of Chinese debt.

"I don’t think it will be long before we see a large tower completed and locked with no occupants. China has countless towers in that category and there is no reason to believe that, in time, the Chinese will not follow the same pattern out here."

Evidence to me that even the writer of this article realizes on some level that this is all just a speculation frenzy (bubble) rather than price increases resulting from Australian real estate being utilized by industries that are increasing their productivity.
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Foxy
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Zero is coming...

If anyone wants a "cheap" house go to Margaret River.
Simple.
Peter
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Dr Watson
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I attended three auctions in inner Melbourne last Saturday. Buyers of Chinese appearance dominated the first two properties and there were a number present at the third.

This is going to be an issue for white males in years to come. It won't be such a problem for Australian women because they can partner with Chinese men to achieve home ownership. The Chinese are better money managers than white men ever will be.

BP, your transmutation is also a racial transmutation.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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mel
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Dr Watson
20 Dec 2013, 10:44 AM
I attended three auctions in inner Melbourne last Saturday. Buyers of Chinese appearance dominated the first two properties and there were a number present at the third.

This is going to be an issue for white males in years to come. It won't be such a problem for Australian women because they can partner with Chinese men to achieve home ownership. The Chinese are better money managers than white men ever will be.

BP, your transmutation is also a racial transmutation.
Doc, I remember you were going to have a look. Did the selling prices surprise you either way?
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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themoops
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Dr Watson
20 Dec 2013, 10:44 AM
I attended three auctions in inner Melbourne last Saturday. Buyers of Chinese appearance dominated the first two properties and there were a number present at the third.

This is going to be an issue for white males in years to come. It won't be such a problem for Australian women because they can partner with Chinese men to achieve home ownership. The Chinese are better money managers than white men ever will be.

BP, your transmutation is also a racial transmutation.
White girls don't like Asians. They're not that treasonous. Most of them would rather die than hook up with an insect.

Unlike BP with his festy mail order. And you typical seedy old men and nerds who are slaves to their dicks.
Edited by themoops, 20 Dec 2013, 11:00 AM.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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Dr Watson
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mel
20 Dec 2013, 10:57 AM
Doc, I remember you were going to have a look. Did the selling prices surprise you either way?
Mel, the first two passed in and the third sold ... and that one is now mine! I don't think I've overpaid, but the bank has arranged a valuation so I guess I'll find out soon enough. They'd have to come back with some crazy low number before I'd need LMI so I'm not overly concerned.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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Black Panther
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themoops
20 Dec 2013, 10:59 AM
White girls don't like Asians. They're not that treasonous. Most of them would rather die than hook up with an insect.

Unlike BP with his festy mail order. And you typical seedy old men and nerds who are slaves to their dicks.
"White girls don't like Asians. They're not that treasonous."

Really Mr Pastrami, then how come so many of them have already married outside of their ethnicity. To Poles, Italians, Greeks, Slavs, etc ...

Seems like they drop their pants very easily to many non Anglo's ...

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themoops
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Black Panther
20 Dec 2013, 11:11 AM
"White girls don't like Asians. They're not that treasonous."

Really Mr Pastrami, then how come so many of them have already married outside of their ethnicity. To Poles, Italians, Greeks, Slavs, etc ...

Seems like they drop their pants very easily to many non Anglo's ...

Poles are white you fool.

Italians, Greeks and Slavs? Pretty rare, and they're mostly the skanky ones that the wogs get.

Anyway technically wogs are white. :oo:
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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