Australian media headlines: It is still easy to make Chinese money! Sydney foreigners and neighbors joined forces to do this
Neighbors in some parts of Sydney are jointly selling houses, earning twice the profit, and some homeowners are even earning up to three times the sale price from developers with scarce land.
Real estate agents said that the recent influx of real estate development funds in China has caused fierce competition with local developers, and smart homeowners have profited from it.
When the investor brothers Nicholas and Andrew Peros decided to sell their two-bedroom apartment in Bondi, they approached neighbors in the same building for a meeting and suggested that the other four neighbors sell the house together.
Nicholas, who works in the construction industry, has "tested the waters" and found that this house on Glenayr Avenue fits the developer's taste very well. It is only 500 meters away from Bondi Beach.
Neighbor Carolyn Lockhart has lived in this building for 20 years. She said she was surprised that everyone agreed to sell the house so soon. "There is nothing to hesitate. We can see that this is an opportunity and a good opportunity that cannot be missed."
Tony McGinley from Richardson & Wrench Projects said that these houses may only sell for 125 million Australian dollars each, but the current guide price for each apartment is higher than 500 million Australian dollars, and the final price will depend on the auction that day. The final bid of the developer.
There is also a case of jointly selling a house to make a profit in Epping. Eight homeowners on Cliff Road in Epping jointly sold their houses. The total sale price is about 8 million Australian dollars, which means that each homeowner will receive 3000 million Australian dollars. Matthew Ramsay of the agency CBRE said that if these houses were sold individually, they could only sell between A$375 million and A$110 million, but now they are earning three times the price.
Sydney Morning Herlad