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Can you correctly identify Chinese leader Xi Jinping in a line-up or would you pick North Korean dictator Kim Jong-un? It may not seem important to unless you’re about to sit your geography HSC, but Chinese investors are now spending $24.3 billion in the Australian market so it might be time to brush off your encyclopedia.
Seventy-three per cent of agents aren’t aware how much money Chinese investors are pumping into the Australian property market and 45 per cent don’t know the best way to contact Chinese buyers, according to a survey conducted by Juwai.com of 1,402 agents in 63 countries – 24 per cent from Australia.
Thirty-one per cent of surveyed agents thought it was $13.4 billion, much less than the actual amount which suggests agents aren’t yet aware of the impact these investors are having on the market.
Even worse than being unaware of the spend across the market, 45 per cent of agents don’t know a Chinese buyer’s favourite way to communicate – WeChat.
Fifteen per cent of agents also failed to identify the Chinese flag and only 23 per cent knew the average cost of an apartment in Beijing – US$750,000.
The answer with the worst result was “What per cent of Chinese citizens have a passport?”. A whopping 82 per cent of agents answered incorrectly. The correct answer is 5 per cent, but the majority response was 25 per cent.
Of the countries which took part in the survey, Australia came ninth, ahead of the US (10th) and the UK (11th) but behind France and Germany who took sixth and eighth respectively.
Full list of questions asked by Juwai.com:
- Which of these is the Chinese flag?
- Who is the current leader of the People’s Republic of China?
- Which country is the most popular for international Chinese property buyers?
- How much on average does an apartment cost in Beijing?
- How many Chinese citizens have a passport?
- How much did Chinese buyers spend in US real estate in 2015?
- How much did Chinese buyers spend in Australian real estate in 2015?
- What do Chinese use the most for communication?
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an you correctly identify Chinese leader Xi Jinping in a line-up or would you pick North Korean dictator Kim Jong-un? It may not seem important to unless you’re about to sit your geography HSC, but Chinese investors are now spending $24.3 billion in the Australian market so it might be time to brush off your encyclopedia.Seventy-three per cent of agents aren’t aware how much money Chinese investors are pumping into the Australian property market and 45 per cent don’t know the best way to contact Chinese buyers, according to a survey conducted by Juwai.com of 1,402 agents in 63 countries – 24 per cent from Australia.
Thirty-one per cent of surveyed agents thought it was $13.4 billion, much less than the actual amount which suggests agents aren’t yet aware of the impact these investors are having on the market.
Even worse than being unaware of the spend across the market, 45 per cent of agents don’t know a Chinese buyer’s favourite way to communicate – WeChat.
Fifteen per cent of agents also failed to identify the Chinese flag and only 23 per cent knew the average cost of an apartment in Beijing – US$750,000.
The answer with the worst result was “What per cent of Chinese citizens have a passport?”. A whopping 82 per cent of agents answered incorrectly. The correct answer is 5 per cent, but the majority response was 25 per cent.
Of the countries which took part in the survey, Australia came ninth, ahead of the US (10th) and the UK (11th) but behind France and Germany who took sixth and eighth respectively.
Full list of questions asked by Juwai.com:
You are not authorised to post comments.
Comments will undergo moderation before they get published.
ABOUT THE AUTHOR
Hannah Blackiston