bbc radio were talking about the Chinese buying up Australia, and forcing Aussie residents to forego their own homes....several RE agents stated there were no checks and balances, the current govt had handed foreigners a free for all....rules and guidelines are out the window.... (as can be expected with theis govnt's flawed policy on everything it touches)
one gave an examples of 20 year old foreign students buying 4 million dollar pads in Sydney...other buyers were buying several properties and land banking them.... this will continue unless it is stopped in its tracks now... it needs a whole lot of media attention .....
on the other side...the Chinese govnuts are attempting to stall a bubble, freezing sales, forcing 40% plus deposits on property etc... so given a choice, what would you do, if in their position....you would probably buy up in OZ with no restrictions in sight... are these asians smarter than the Japanese, who bought up in FNQ as if there was no tomorrow...then departed just as suddenly taking huge losses.....???
on another note...Oaklands and surrounding district will look appealing even to the asians.... read somewhere recently, China will introduce a fly in fly out to a big mine in WA....nothing to stop them doing the same in NSW....but they will still need accommodation for the time they are there maybe you can negotiate an option on a property deal, with a 6 -12 month option to buy....or lease a property, with the option to sublease...run it as a boarding house....I recall seeing some rather big props with 5 plus bedrooms on the market mates in Albury have had experience with the asian buyers, they pay cash...one asian buyer bought a prop next door at auction, they then went to each of the neighbours and offered to buy their houses...but neighbours said no thanks.. I think they may be a force to be reckoned with....but the idea of just landbanking, is so un-australian...it could break up the fabric of the australian dream, and community life, as we know it....whole streets turned into rows of empty houses, is not a good look.... apparently that is the case in some suburbs in Melb ...they have bought up the whole street....
