However buyer appetite for NZ property has remained strong; country’s real estate is "good value”
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Although New Zealand’s real estate has remained of interest to Chinese buyers, lately it has slipped in popularity.
Australia and New Zealand chief for Chinese real estate business Juwai, Jane Lu, told the NZ Herald that Chinese buyers ranked New Zealand as the sixth most popular country globally, down from fifth place in 2015 and 2016.
"The fact that we still have so many Chinese buying in New Zealand shows that they still have the money and the interest,” Lu told the NZ Herald.
“When you compare the price of similar property in China and New Zealand, the latter still offers good value.”
Lu said that despite tighter capital controls this year, 57% of Chinese buyers said they will increase their overseas investments over the next two years, with more than 60% planning to invest specifically in residential real estate.
The most popular countries for real estate with Chinese buyers, based on consumer buying inquiries made with Juwai, are the United States, Australia, Thailand, Canada and the United Kingdom, respectively.
With Australia being the second most popular country in the world for investment, Lu told the NZ Herald that such a trend will provide an underlying strength to demand in New Zealand over the long term.
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Australia and New Zealand chief for Chinese real estate business Juwai, Jane Lu, told the NZ Herald that Chinese buyers ranked New Zealand as the sixth most popular country globally, down from fifth place in 2015 and 2016.
"The fact that we still have so many Chinese buying in New Zealand shows that they still have the money and the interest,” Lu told the NZ Herald.
“When you compare the price of similar property in China and New Zealand, the latter still offers good value.”
Lu said that despite tighter capital controls this year, 57% of Chinese buyers said they will increase their overseas investments over the next two years, with more than 60% planning to invest specifically in residential real estate.
The most popular countries for real estate with Chinese buyers, based on consumer buying inquiries made with Juwai, are the United States, Australia, Thailand, Canada and the United Kingdom, respectively.
With Australia being the second most popular country in the world for investment, Lu told the NZ Herald that such a trend will provide an underlying strength to demand in New Zealand over the long term.
Related stories:
New Zealand cities rise sharply among world’s most expensive
Two of world's strongest real estate markets just next door
