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The falling Australian dollar has increased the purchasing power of Chinese buyers – and now made it cheaper for agents to do business with them.
Juwai, a listings portal for China-based real estate investors, has responded to the currency fluctuation by introducing Australian-dollar pricing for local agents.
That makes the portal about 27 per cent cheaper to use than if pricing had remained fixed in US dollars, according to Juwai.
Agents on Juwai's ‘China Starter’ package will be able to save up to $324 due to the new rates.
Co-chief executive Andrew Taylor said the falling Australian dollar had also made life easier for China-based investors.
“Australian property today is 50 per cent cheaper for Chinese buyers that it was less than four years ago, in May 2011,” he said.
“We believe that Juwai.com’s new Australian-dollar pricing, combined with the increased Chinese purchasing power, makes this the best time yet for Australian property marketers to target the Chinese buyer.”
According to Juwai, the portal has sent $20.2 billion of property leads to Australian customers – $4.2 billion from international Chinese-speaking buyers and $16 billion from domestic Chinese speakers located in Australia.
[LinkedIn: What's your favourite listings portal and why?]
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