Chinese buyers flocking to Southport according to property portal

SOUTHPORT has taken out the number one suburb search on a Chinese property portal.

QLD_GCB_REALESTATE_WHITEHEAD_9APR16(2)

SOUTHPORT has taken out the number one searched suburb on Chinese property portal myfun.com for the second year in a row.

The site, owned by REA Group, offers potential Chinese buyers the opportunity to search for Australian properties on the market.

REA Group chief economist Nerida Conisbee said the Gold Coast’s drawcard for the Chinese was its tourism label.

Southport has taken out the number one suburb search on a Chinese property portal. Photo: Richard Gosling.

“In comparison to other most searched for suburbs by Chinese investors in other states where a large Chinese-born resident population is one of the main considerations, the driver for Chinese interest on the Gold Coast is as a holiday destination,” she said.

“Reminiscent of Japanese interest in the Gold Coast region in the 1980s, Chinese property buyers are now increasingly looking to invest in residential property in the area.”

Aerial Photo showing Southport and Surfers Paradise.

She said availability of apartment stock also increased interest with many of the top 10 suburbs seeing an increase in development.

“Suburbs with a high median house prices do not appear to be a major driver with most Chinese buyers and investors not focused on areas considered to be blue-chip suburbs,” she said.

Other Gold Coast suburbs to make the top 10 included Robina, Surfers Paradise, Tallai and Helensvale.

TOP 10

1. Southport

2. Sunnybank

3. Robina

4. Indooroopilly

5. Surfers Paradise

6. Tallai

7. Helensvale

8. New Farm

9. Hawthorne

10. Carindale