Chinese buyers in town for New Year celebrations are expected to check out the local property market.
REAL estate agents are expecting a flurry of activity in the next few weeks as the Chinese New Year brings potential buyers to Brisbane.
With the holiday period in China extending a week or more beyond February 8, the weekend of February 13-14 is expected to be particularly busy.
LJ Hooker Sunnybank Hills sales agent Rosa Chiu said many Chinese holiday-makers would visit friends and relatives in Brisbane in February.
“These people will come here to buy properties they’ve been keeping an eye on and to understand more about the market,” she said.
“We’ve already noticed a couple of deluxe properties in the area attracting 16 to 17 groups at inspection, when it’s normally less than 10 groups.
“Some of the groups have mentioned they’re here for Chinese New Year.”
The positive symbol of the monkey could also mean an equally positive year for the market.
“I’m not a fortune teller but it should be a very good year,” she said.
“The monkey is a character that makes everyone happy and overall this year, we’re expecting Chinese buyers will increase.
“The low exchange rate is very attractive and there are so many buyers around that it is a sellers’ market, with buyers achieving more than their expected price.”
One of Ms Chiu’s listed properties at Eight Mile Plains, which will be auctioned on February 13, has already attracted attention, with more than 40 groups inspecting the four-bedroom house. “Eight Mile Plains is a very attractive area for Asian buyers,” she said.