Chinese buying up Sydney prestige properties

Watch as a journalist, and real-estate agent, with no sense of identity, have nothing but praise for the "astonishing" level of Chinese interest in the Sydney property market.

Chinese get a taste for Sydney (02:59)
A new visa is working wonders for Sydney's prestige market.
Property editor Stephen Nicholls reports.
STEPHEN NICHOLLS: The level of Chinese interest in Sydney's real-estate at the moment is astonishing. This enthusiasm was celebrated at the recent launch of the Domain Chinese magazine at the Opera House ... [that] targets the 380,000 Chinese Australians that call NSW 'home'. And a new Domain Chinese website will showcase Sydney to a potential audience of 1.3 billion. The Chinese just love the look of our property ...

Property agents say a new visa, called the Significant Investor Visa, is already having an impact on Chinese property hunters. This visa fast-tracks and simplifies the complicated process that foreigners face when trying to move here. By putting $5 million into approved investments they can fast-track entry into Australia.

MICHAEL PALLIER (Sotheby's): Four weeks ago, Sotherby's in Hong Kong organised a roadshow with one the the major Australian banks for their private clients in Shanghai, so we had sixty people who had put down the $5 million for their visa, met at a hotel in Shanghai one evening and they had a dinner, and we were able to showcase nine of our best properties to those people. So we actually got to the people before they got to Australia ...

STEPHEN NICHOLLS: Agents say, that with a million millionaires ... so in love with Sydney property, it's time to get your house in order.

MICHAEL PALLIER: If I was a vendor of a prestige property I would be making sure that it appeals to the Asian market as much as I could, and I'd be absolutely pitching it to the Chinese market because that will be the future, more and more and more. And I think that if we want to get with it we have to understand that the Asian people, their wealth's increasing, and they'll want to buy more and more of these properties. So this will just continue, ... it's like a big wheel that's starting to roll, and it's just going to roll faster and faster and faster. So you've got to get on board if you want to get a good price for your house.
And Sydney is also on track to soon be dominated by an Asian population. So while Geert Wilders recently labelled Sydney as "the Australian city where Islamisation has progressed the furthest" (which is true), nonetheless Sydney is on track to be Asianised, not Islamised. Everyone else will be priced out of the market, or leave because they feel alienated.

So long as we continue to be led by reckless and dangerous men without identity, our future as displaced strangers in our own land is assured.

File under: country for sale.


  1. This is how modern Australia, the "knowledge nation," makes a buck these days - selling its houses, along with its residency rights, to Chinese colonists... sorry "investors."

    The Australian government, acting on behalf of its mates in the real estate industry, is effectively inviting foreign populations to move in and colonise parts of the country.

    And, once again, Australians are forced to carry the costs. They have to compete with rich foreigners for housing in a country already facing a chronic housing shortage. They have to pay their taxes just so that wealthy Chinese can simply move in and make use of Australia's public services and infrastructure. They have to tolerate the creation of foreign enclaves within their cities, knowing that any objection, no matter how slight or reasonable, will result in them being labelled "xenophobic" and "racist."

    This is the reality of life in modern Australia, a big piece of real estate up for sale to the highest bidder.


  2. "This is buying a visa," Monash University migration expert Bob Birrell said. "[This visa] treats Australian residence as a commodity."

    Under the federal government's broad program criteria, each state can stipulate where the $5 million is to be spent. New South Wales is aggressively competing for the wealthy migrants and wants $1.5 million from every $5 million invested in a state infrastructure fund. In Victoria, migration agents are waiting on the Baillieu government to issue guidelines.

    Businessman and Sydney Swans chairman Richard Colless pushed for the visa with Immigration Minister Chris Bowen.

    Mr Colless is chairman of an Australian property fund at global investment bank Moelis & Co and is said to be wooing applicants. "We would be one of many to say this is a great opportunity to attract long-term capital," Mr Colless said.

    Full article

    Our government is giving Asian countries the green-light to colonise Australia.

    These people would sell their own mother to Asians if they could.

  3. JS, thanks for the link. "Disgusting" is the right word. It's sickening the way they are selling off our country. Bob Birrell is correct, it's a visa for sale.