Insights from the offshore market
Jinding Real Estate is one of the leading channel sales agents for Australia’s top developers and master agents. Our full service model which includes marketing, sales, concierge, migration & education, property management and established sales has seen our network of over 350 staff in China and 100 staff in Australia deliver outstanding results, even through the challenges presented by COVID-19.
This week, our Chief Strategy Officer and Chief Financial Officer Luke Guthrie spoke with urban.com.au about the trends we are seeing in the offshore market through our Jinding Real Estate business.
1. Despite COVID-19, Chinese buyers are still very active
China’s extensive measures to combat COVID-19 have ensured Chinese property buyers remain very active participants in the Australian property market. Further, Australia’s detailed response to COVID-19 and its economic consequences have greatly enhanced Australia’s reputation as a safe place to invest and/or move their family or children.
Jinding Real Estate is currently running webinars multiple times a week with up to 3,000 – 5,000 engaged viewers in addition to content delivered through a range of online communication and education platforms. Despite the challenges of COVID-19 Jinding Real Estate has achieved record monthly sales in 2020 for the months of January, February, March and May.
2. Education and experience are more critical than ever
Similar to local market expectation, offshore buyers are looking for more information than ever before, presented in a way that conveys a compelling narrative about the attributes of their potential investment and its location. With much of the purchase cycle (if not all) happening online, webinars, interviews, video content and virtual tools have become a requirement rather than a nice to have. Developers also need to establish means to easily convey to offshore buyers that an appropriate level of quality is to be delivered for each particular product and price point.
Buyers are looking to recognised sources of information and are following brands like Jinding on WeChat and other social media to keep track of market trends and compelling product. Our team has a well-regarded presence and continues to enhance the digital components of our successful marketing and sales model to achieve strong reach connecting prospective purchasers with our network of 12 (soon to be 14) offices across China.
3. Post purchase support is aiding sales conversion
The post purchase experience for both investors and prospective owner occupiers is critical to the purchase with rental guarantees, free blinds, free FIRB application fees and landscaping/furniture packages proving enticing. Our end-to-end service offering ensures that buyers are supported with property management, relocation to Australia, enrolment in education and connection with local service providers and organisations.
4. Product preferences are focused primarily in the affordable space
Purchasers are typically seeking affordable product in the range of $400-$700k which is making smaller cities and regional centres compelling options. Investor targeted stock which delivers an appropriate yield combined with incentives is generating the most attention.
5. There’s more to Australia than Melbourne and Sydney
With affordability a key driver, the Chinese market are expanding their consideration set to include areas like Geelong, Canberra and the Gold Coast. Connection to tertiary education, public transport and major shopping or entertainment amenities considered most desirable.
For more information on the offshore market or for channel sales support for your project, please contact Jay Song – firstname.lastname@example.org