{"id":14300,"date":"2017-10-07T01:00:00","date_gmt":"2017-10-06T14:00:00","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=14300"},"modified":"2017-10-07T01:00:00","modified_gmt":"2017-10-06T14:00:00","slug":"video-empty-apartments-owned-by-chinese-is-an-urban-myth","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\/","title":{"rendered":"VIDEO – Empty apartments owned by Chinese is an \u2018urban myth\u201d"},"content":{"rendered":"

Transcript:<\/strong>
\nThe idea of vacant apartments held by offshore buyers is an \u201curban myth\u201d according to Jane Lu, head of Australia for Chinese international property site\u00a0Juwai. She said there was \u201cno hard data\u201d to prove that is the case. This follows a\u00a0UBS\u00a0housing report pointing to as many as one in four homes – owned offshore by mainland Chinese buyers – being kept empty, and a further quarter used on a \u201ctemporary\u201d\u00a0basis.\u00a0\u00a0 Lu says \u201cMost Chinese buyers of inner-city apartments are not so wealthy that they can afford to leave their property vacant \u2014 rather than renting it and earning some sort of income. There are some who do not live there full-time, because it is their second home.\u00a0 Chinese investors are no more likely to turn down easy rent money than are Australians\u201d she says.\u00a0\u00a0\u00a0 According to Lu – Australian second-home owners probably have more vacant properties in Ballina and Byron Bay than Chinese investors do in downtown Sydney or Melbourne.\u00a0 Census data shows\u00a0one million homes\u00a0are now left empty across Australia \u2013 200,000 more than a decade ago.\u00a0\u00a0 The 2016 census indicated that at most, there would be 70,000 dwellings which could fall into the intentionally vacant category which is less than one per cent of all dwellings in Australia.\u00a0\u00a0 A 2015 analysis\u00a0of water usage by think tank, Prosper Australia, found 20 per cent of investor-owned properties in Melbourne were sitting vacant, though there wasn\u2019t a distinction between local and foreign investors.\u00a0 For many, the decision to hold an empty investment property might actually make financial sense \u2013\u00a0for instance, those wanting to sell in the near future might achieve a premium for an untenanted property.\u00a0 A\u00a0survey\u00a0by University of Sydney academics\u00a0in May found many Sydneysiders did not believe foreign investors should be allowed to buy Australian property.\u00a0 Foreign property buyers were recently slugged with\u00a0vacancy taxes\u00a0in the 2017 federal budget.\u00a0 Domain Group chief economist Andrew Wilson said it was \u201clikely\u201d foreign investors were a component of what had kept rent prices high and vacancy rates low despite a building boom in Sydney and Melbourne.\u00a0\u00a0 No doubt, because of the Sydney and Melbourne property booms of the past few years, and a rising number of foreign investment purchases, offshore ownership of Australian real estate has become a hot-button issue.<\/p>\n","protected":false},"excerpt":{"rendered":"

Transcript: The idea of vacant apartments held by offshore buyers is an \u201curban myth\u201d according to Jane Lu, head of Australia for Chinese international property site\u00a0Juwai. She said there was \u201cno hard data\u201d to prove that is the case. This follows a\u00a0UBS\u00a0housing report pointing to…<\/p>\n","protected":false},"author":176692471,"featured_media":14301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,29],"tags":[131],"class_list":["post-14300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-video","tag-videos"],"yoast_head":"\nVIDEO - Empty apartments owned by Chinese is an \u2018urban myth\u201d - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VIDEO - Empty apartments owned by Chinese is an \u2018urban myth\u201d - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Transcript: The idea of vacant apartments held by offshore buyers is an \u201curban myth\u201d according to Jane Lu, head of Australia for Chinese international property site\u00a0Juwai. She said there was \u201cno hard data\u201d to prove that is the case. This follows a\u00a0UBS\u00a0housing report pointing to...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-06T14:00:00+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"VIDEO – Empty apartments owned by Chinese is an \u2018urban myth\u201d\",\"datePublished\":\"2017-10-06T14:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/\"},\"wordCount\":392,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"videos\"],\"articleSection\":[\"Kevin Turner\",\"Latest Stories\",\"Videos\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/\",\"name\":\"VIDEO - Empty apartments owned by Chinese is an \u2018urban myth\u201d - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2017-10-06T14:00:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/video-empty-apartments-owned-by-chinese-is-an-urban-myth\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"VIDEO – Empty apartments owned by Chinese is an \u2018urban myth\u201d\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. 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