One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Juwai

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GUEST OBSERVER
For Michael Hickinbotham, Managing Director of South Australia’s number-one home builder, his company’s deep-seated family roots and commitment to innovation, quality, and value make the Hickinbotham Group a trusted household name today — some 60 years after the first house went up.  
His father and grandfather, Alan David and Alan Robb respectively, established the company more than 60 years ago. Today, it has built 40,000 homes and more than 50 community estates and maintains the founders’ mission of creating beautiful, quality homes for South Australians.
Hickinbotham tells me he proudly attributes the company’s ongoing success to its core values. 
“Above all, I believe in the concepts of innovation, creativity and value. It’s innovation and creativity that allow us to create value and, it’s the ability to offer superior value that underpins our success,” he enthusiastically shares. 
Hickinbotham Group is the only homebuilder to create and successfully manage brands for every segment of the market, from first home buyers to the middle market and all the way up to luxury homes.
But keeping the company at number one, Hickinbotham explains, takes tenacity and a passionate team that thrives on a sense of urgency. “When we decide to do something, we commit to it, and we do it as well as we can.”
He says, “To sell significant volumes of real estate you have to offer unmatched value. That starts with beautiful designs, great build quality, and fantastic service and is backed up by people who care.”
While Hickinbotham says luck has played a part of the company’s success, he also notes the company has continued to pioneer through significant challenges, including the South Australian State Bank collapse in the 1980’s, the Global Financial Crisis, and the residential building downturn of the mid- and late-2000’s.
The family business emerged from each crisis stronger, smarter, and wiser. 
South Australian Heritage
Hickinbotham’s father and grandfather were the first in the family to develop homes for sale, starting with a house in 1954 on Sturdee Street in Linden Park, an inner-eastern suburb of Adelaide. I understand that house still stands today and is in immaculate condition. 
These are humble beginnings, but both men had a vision to improve communities that still inspires the company’s success today.
His father was a renowned sportsman who represented South Australia and Geelong in football and seemed larger than life. He was well read and engaged with the world but determined and single-minded about the family business.
His grandfather —known to many as “Hick”— was a respected academic and the founder of Australia’s most famous winemaking course at Roseworthy, which is now part of the University of Adelaide.
The legacy of these two men drive Hickinbotham to try new things. 
“While I don’t like failures, I accept that if you don’t have some failures you’re not pushing the envelope far enough, you’re not testing your limits, you’re not growing,” Hickinbotham said. 
“With business you have to learn to take risks and to minimise risk where you can. You have to be willing to fail and, more than that, to face your failures squarely and learn from them.”
Creating homes, not houses 
Although a trained lawyer, Hickinbotham chose property. He could have also joined his family’s other business, which is wine. His older brother David oversees a business that produces excellent wines. Twice they have been ranked among the 100 best in the world by Wine Spectator magazine.
“I love real estate because it is so fundamental to human happiness,” Hickinbotham says. “Nothing improves lives like putting a roof overhead. Real estate is also a time-honoured way for people to build their wealth.”
“I whole-heartedly believe the family serves the business, not the other way around. The business, in turn exists to serve our customers and the community”.
And, as Hickinbotham confidently and proudly states, it is this philosophy and commitment that will continue to guide the business for the next generations. 
Hickinbotham Group was the first Australian developer to put telephone and power lines underground; the first to impose restrictive covenants on the felling of trees at a new home estate; the first to win a Civic Trust award for a housing development. They were the first to store run-off stormwater in the aquifer for later re-use. They were also the first to develop a privately-owned public school at a time when the South Australian State Government couldn’t afford to fund new schools. 
Notably, the company recently signed an agreement with Elon Musk’s Tesla to explore the deployment of Tesla batteries in its estates. And the company already puts solar on many of the homes it builds. 
Hickinbotham Group has even worked on plans to take an entire housing estate “off the grid” via photovoltaic cells and batteries. This means homeowners might be able to earn revenue by selling excess power back to the grid. 
Advice for First Time Buyers and Investors 
As a proud Adelaidean, Hickinbotham whole-heartedly believes his city is the best in Australia for first home buyers.
“You will get a lot more for your money in Adelaide than in Sydney or Melbourne,” he says. 
“Infrastructure here is less stretched. Prices are not as high, so there is a lower entry cost. Adelaide is beautiful and the perfect size at 1.3 million people.”
According to Hickinbotham Group, South Australia is a less volatile market to invest in because traditionally it hasn’t been subjected to the same booms and busts as other capital cities.
“I have also lived in London, Sydney and Melbourne, and I love those cities. But in Adelaide, I can take the family to the beach, or we can go to the wineries and small towns in the Adelaide Hills. Both are only about 30 minutes from the city centre.”
And, naturally, he firmly believes houses are a fantastic investment. 
“The secret to investment success in property is to understand that it is the land that appreciates, not the buildings”, he explains. 
“If you’re in a block of 200 apartments, when the land value increases, the extra value is divided 200 times. That’s the main reason why houses have been such a good investment for such a long time.”
GEORG CHMIEL, the chairman of Juwai, a Chinese website for buyers of overseas property, was speaking to Michael Hickinbotham in his regular column giving insight into the leading minds of Australian property experts.
He has spoken with LJ Hooker agent Bill Malouf about the ins and out of the Sydney market, REINSW president Leanne Pilkington about women in real estate, developer Larry Kestelman about developing your first property, Harcourts boss Mike Green on real estate investment secrets, Ironfish chief Joseph Chou on investing in today's market and liveability guru Cecile Weldon.
 
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jrobinson-rf4aSBido9

Georg Chmiel chats with Hickinbotham Group's Michael Hickinbotham about the home building family business

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Georg Chmiel chats with Harcourts co-owner Mike Green about secrets for real estate investing.
One of the most charming and gregarious people in the real estate industry calls himself an introvert. But what will really surprise you about Harcourts MD Mike Green is the job that he sought before becoming an agent and what he has to say about investing in apartments. 
Green is co-owner of international real estate network Harcourts – a New Zealand native who made the hop to Brisbane (for the weather) and has since conquered not only Australia but nine other countries as well. 
We will get into Green’s secrets for real estate investing, but first let’s look at how he climbed the business ladder. He got into real estate purely by accident.  
“I was looking through the newspaper for a job, having just left university” he says. “I applied for a job washing cars in a car yard, and the guy turned me down.” 
That rejection sent Green back to the employment classifieds (remember those?). Eventually, he talked his way into his first property job at 19 as a real estate sales consultant with no experience and only one year of university. He hasn’t looked back since.
Does he still pine for the missed opportunity to wash cars all day long? I didn’t ask him, but I imagine not.
“I went into a profession that I just clicked with,” he told me. “I love the freedom of it, the impact you can have on people’s lives. Eventually, my wife Irene and I opened our own Harcourts franchise. Now (Harcourts Chairman) Paul Wright, Irene and I are the owners of the Harcourts international franchisor.”
Green’s secrets to success in business are available to anyone. “The reality is,” he says, “if you hang around long enough, you end up at the top — as long as you don’t do anything stupid and don’t annoy people.”
I have managed hundreds of people in my career and, as simplistic as it sounds, this advice is actually quite profound.
DISRUPTON
Green runs a major international real estate agency network with more than 900 offices in 10 countries. Is he worried about losing it all to a tech giant like realestate.com.au, purplebricks.com or Google? 
Not a bit.
“The only thing we need to worry about is disrupting ourselves by not delivering value,” he told me. Selling a home “is such an emotional and traumatic experience. Our clients actually want an advisor to help them through the process. It’s very hard to disrupt when you have hundreds of thousands of people on the ground doing just that.”
But Green did admit that there are still risks. No real estate company has a monopoly. 
“If we don’t add value to clients we will disappear like so many other companies in other industries have.”  
COUPLES
For Green, one of the benefits of a career in real estate has been the opportunity to work alongside his wife Irene, who is herself extremely successful in the industry in her own right. 
“Irene and I have worked together for nearly 30 years,” he said, “and it certainly creates its own unique challenges. You never stop talking about the business. It’s a really dangerous place to be when your wife technically reports to you, which was the case for a very short period of time.” 
After all, we all know who the real boss is…
That said, Green encourages other couples to consider a property career, as long as you can “keep a sense of humor and understand that, while the business is important, the relationship is far more important.”
WHAT SHOULD FIRST BUYERS DO?
Now, let’s get to Green’s advice for first-time buyers who are in a tough position because of high prices. 
“Government is more attuned to first-home buyers now,” he says. “Study up on the available first-home buyer grants and other incentives available.”
You should choose a “good property that can be readily resold and has a wide market appeal. What they say about location is very true. If you buy in a good location you will always be fine in the long term.”
And watch out for interest rates, which are still at historic lows. “Reality says that will change,” advises Green. “You should say, ‘Hey if the rates go up two percent or three percent, will I be OK?’ 
“Also factor in starting a family. If you have to live on one income, how will that look?”
ADVICE FOR INVESTORS
Green advises property investors to play it safe, too. His preferred investment is a three-bedroom home on a little bit of land and with a garage.
“They are very easy to rent, and if you need to sell they sell easily. Some investors look for houses that have been split up for multiple revenue streams, but those are harder to sell. They only appeal to other investors. If you are under pressure and need to sell, chances are other investors will be, too.”
Green made a 38% profit on his first investment home after only two and a half years. It had cost him NZ$29,000. Today, the same home is worth as much as NZ$1.8 million. 
Now, about apartments. While Green lives in one for the care-free lifestyle it affords, he doesn’t recommend apartments as an investment.
“They don’t perform as well in terms of rental return or capital gain. I’d recommend you spend a bit more and buy a three-bedroom house.”
Green firmly believes property investors today can still leverage a small amount of capital into a large and successful portfolio that eventually lets them live off their earnings. His own sons and a number of their friends are following just this strategy.
“I think you can do it today,” he said. 
“You have got to be a bit careful because there is more money involved. But as rents and capital gains grow and the mortgage is paid down, you are building wealth. Property will never be cheaper than it is today!”
Georg Chmiel, the chairman of Juwai, a Chinese website for buyers of overseas property, was speaking to Mike Green in what will be a monthly insight into the leading minds of Australian property experts.
He has spoken with LJ Hooker agent Bill Malouf about the ins and out of the Sydney market and REINSW president Leanne Pilkington about women in real estate.
He most recently spoke with Melbourne property developer Larry Kestelman about developing your first property.
 
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Georg Chmiel chats with Harcourts boss Mike Green on real estate investment secrets

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EXPERT OBSERVER
When brothers Ben and Rob Coorey created the technology to analyse the profitability of potential development sites within seconds, they had a choice.  
They could keep it to themselves and go on to become two of Australia's richest developers. Or, they could share it with the world and make real estate investment, development, and design much easier and more transparent for everyone.
They chose the latter.
Not that they haven't also benefitted. Their business, <a href="https://archistar.ai/" target="_blank">Archistar</a>, has raised millions from investors such as the former Foxtel chief executive Peter Tonagh, ex-CoreLogic managing director Graham Mirabito, and former CEO of CBRE Australasia Tom Southern.
"Our tool evaluates development opportunities for your property and assesses its potential market performance,” Ben Coorey told me in a conversation last week. "A consumer, developer, architect, or council … anyone can benefit if they need to assess designs."
MAKING NEIGHBOURS RICH
Archistar can even turn a handful of neighbours into millionaires.  
As Coorey pointed out, the most important part of real estate development is to understand what the rules are for your site. His tool gives you exactly that information.
Coorey say, "Our software allows you to piece together a number of neighbouring lots and determine what you could build if they were combined.”
A group of eight neighbours in Castle Hill secured $5 million each by selling all their homes in one go. The developer who bought the land plans to build a unit project. Since the average price in Castle Hill is about $1.3 million, the vendors earned about a 300% profit by informing themselves about the development potential of their property.
That kind of windfall shows why Archistar’s tool is so valuable. But I don’t think the Coorey brothers are in it for the money. 
Talking to Ben, I got the sense that what really motivates the Cooreys is getting their arms around complex problems and then solving them. The fact that they made their development analysis tool publicly available is proof. (You can get a free, basic analysis of your own home on their website, https://archistar.ai.)
More proof that the Archistar team is motivated by a good challenge rather than a fast buck comes from the fact that they decided to take on the challenge of developing automated reports based on the arcane rules of a 3,000-year-old practice that has been called both science and superstition.
DOES YOUR HOME HAVE GOOD FENG SHUI?
“We wanted to democratise the principles of Feng Shui so that anyone, anywhere could get an instant Feng Shui analysis of their floorplan,” Coorey told me.
How hard was that? 
Very. 
Archistar spent 12 months developing a one-of-a-kind artificial intelligence engine that makes the Feng Shui analysis possible. To start with, they had to understand the principles of Feng Shui. Then, they had to digitize them, create algorithms that can analyse any floorplan according to those rules, and design a system that uses those algorithms to provide useful insights that allow you to fix whatever Feng Shui problems your home might have.
"We had to translate over 500 rules from ancient Chinese Feng Shui texts that go back hundreds of years," Coorey said. The sources they consulted also included some recent page-turners such as Human Habitat and Feng Shui (人居环境与风水), Modern Residential Feng Shui (现代住宅风水), and Chinese Wisdom Feng Shui's Application (国学智慧-风水文化应用篇) by Professor Yu Xixian.
"From those texts, we put together a set of Feng Shui rules," said Coorey. "Then we take apart floorplans and use these rules to evaluate the Feng Shui of each one."
To test its new Feng Shui analysis tool, Archistar looked at The Lodge, the official Canberra Prime Minister’s residence which has been home to leaders such as Robert Menzies, Malcolm Fraser, Bob Hawke, Gough Whitlam, Paul Keating, and John Howard.
Archistar’s Feng Shui analysis found that the 1927 building generally abides by Feng Shui principles. It’s not that the original architects consulted a Feng Shui expert when designing The Lodge.
“Sometimes, a design has good Feng Shui even though the architects didn’t know anything about the practice,” said Coorey. “Good design can transcend cultures.”
Juwai.com, where I am chairman, now provides Archistar’s Feng Shui reports to our Chinese international property buyers.
WHICH CITY RULES?
As Archistar analyses the Feng Shui properties of more and more floorplans, Coorey expects to be able to draw conclusions about entire cities.
“As we build a database of floorplans, you can start to collect insights on regions, countries, and cities. Up until this point, you haven’t had the analysis in a common format that you could compare. Now, we have a standard format to do so.”
I asked Coorey which Australian city he thought would come out on top in the Feng Shui competition. 
Do buildings in Melbourne have better Feng Shui than Sydney? Does Brisbane beat Perth? And can Parramatta blame bad Feng Shui for the fact that the Eels came dead last in 2018, or is there a more nefarious cause?
Probably wisely, Coorey wasn’t willing to hazard an answer to any of these questions.
Georg Chmiel is the chairman of Juwai, a Chinese website for buyers of overseas property, was speaking to Ben Coorey, the founder and CEO of Archistar, a training centre teaching digital design skills for architects and engineers.
His regular column, getting into the leading minds of Australian property experts, has spoken with LJ Hooker agent Bill Malouf about the <a href="https://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/82193-georg-chmiel-chats-with-bill-malouf" target="_blank">ins and out of the Sydney market</a>, REINSW president Leanne Pilkington about <a href="https://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/83830-georg-chmiel-chats-with-reinsw-president-leanne-pilkington-on-women-in-real-estate" target="_blank">women in real estate</a>, developer Larry Kestelman about <a href="https://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/85169-georg-chmiel-chats-with-larry-kestelman-about-developing-your-first-property" target="_blank">developing your first property</a>, Harcourts boss Mike Green on <a href="https://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/86232-georg-chmiel-chats-with-harcourts-boss-mike-green-on-real-estate-investment-secrets" target="_blank">real estate investment secrets</a>, Ironfish chief Joseph Chou on <a href="https://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/87440-georg-chmiel-talks-with-ironfish-ceo-joseph-chou-about-whether-to-invest-in-today-s-market" target="_blank">investing in today's market</a>, liveability guru <a href="https://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/90628-georg-chmiel-talks-with-liveability-guru-cecille-weldon-about-unlocking-a-home-s-hidden-value" target="_blank">Cecile Weldon</a> and Hickinbotham Group's <a href="https://www.propertyobserver.com.au/forward-planning/investment-strategy/129-industry-leaders-give-their-property-insights/93219-georg-chmiel-chats-with-hickinbotham-group-s-michael-hickinbotham-about-the-home-building-family-business" target="_blank">Michael Hickinbotham</a>.
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Georg Chmiel chats with Ben Coorey on how to turn neighbours into millionaires

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Crown Residences at Barangaroo has won Chinese Global Choice Awards from Juwai.com, the number one Chinese international property portal
The awards presentation, held in Shanghai, saw Crown Residences pick up the Best International Hospitality Branded Residence.
The presentation followed followed four months of nominations, online voting by Chinese consumers, and final selection by a panel of judges that included senior executives from Alibaba Entrepreneurs Fund, Noah Holdings, and other respected companies.
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The Juwai Global Chinese Choice Awards (below) is the only awards program in the world to target China-centric residential developers, agencies, lenders, and other organizations.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/11/all_winners_Juwai%20copy.jpg" alt="">
Todd Nisbet, executive vice president of strategy and development for Crown Resorts said the fact that a project in Australia won the award shows how global real estate has become.
 "We couldn’t be more excited about receiving this award, given the fact that it is voted on by the general public who are interested in real estate," Nisbet said.
"That an award has been won by a project in Australia is a testament to how truly global real estate has become for the Chinese consumer. 
Crown wasn't the only Australian winner at the awards night.
Property investment firm Ironfish won the Trustworthy Overseas Property Service Provider award.
Lanny Xu, CEO of Ironfish China, said it's one of the best awards to win.
“Since 2004, we have built up our business in China and received lots of awards and are very appreciative, but none of these can be compared with today’s award from Juwai," she said.
"It is one of the best awards in the industry and we are very honoured to receive it. 
"Hopefully, in the future, we will work with Juwai<a href="http://juwai.com/">.</a>com in a long-term relationship in terms of serving clients in purchasing and investing in overseas property.”
 
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Crown Residences at One Barangaroo win Juwai award for best international hospitality branded residence

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Former Mirvac CEO Greg Paramor will join the board of directors at Juwai, the No.1 Chinese international property website, as a non-executive director from December.
Paramor has been involved in the real estate and funds management industry for more than 40 years.
He is former CEO of Mirvac Group, past president of both the Property Council of Australia and the Investment Funds Association, a board member of the professional Australian rules football club the Sydney Swans, and the immediate past Chair of LJ Hooker.
Juwai.com board chairman Georg Chmiel said Greg brings to Juwai.com so much expertise in Australian and APAC property, finance, and business that he is a treasure to have on the board.
"We expect Greg to work closely with the existing board members and the executive team on delivering on our vision for Juwai in 2019 and beyond," Chmiel said.
“This year, Juwai.com has delivered rapid growth on its financial and operational metrics."
Paramor said he is delighted to join the board.
“Juwai.com is one of the most exciting real estate technology companies on the landscape today," he said.
“Juwai.com has a promising future, given the size of its addressable market, its lead over potential competitors, and its role in the cross-border property sales process."
In August, Paramor's property fund management and development group, Folkestone, was acquired by Charter Hall Limited for $205 million.
He is a non-executive director at Charter Hall, which is a listed property funds management group with over AU$26 billion under management.
Paramor served as CEO of Mirvac Group between 2004 and 2008. He cofounded Equity Real Estate Partners, Growth Equities Mutual, Paladin Australia and the James Fielding Group. 
Paramor was awarded an Officer in the General Division (AO) of the Order of Australia in January 2015 for his distinguished service to the community through executive roles in fields that include breast cancer research, sport, the not-for-profit sector, and property. 
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Former Mirvac CEO Greg Paramor joins Juwai board

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Chinese buyers of Australian real estate spent US$6.4 billion less in 2017 than they did in 2016, according to Juwai.com’s Chinese Global Property Investment report.
<div>Chinese purchased US$17.4 billion on Australian real estate in 2017, well down on the 2016 total estimate of US$24 billion.</div>
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<div>New Zealand saw US$1 billion in investment.</div>
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<div>The total Australia and New Zealand investment combined was down 23 percent from 2016.</div>
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<div>Carrie Law, CEO and director of Chinese international real estate website Juwai.com said that capital controls, restrictions on bank financing to offshore buyers, and new foreign buyer taxes and restrictions all served to reduce Chinese investment last year.</div>
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<div>"This year we expect moderate growth, which is in line with Beijing’s goal of managed, rational overseas investment," Law said.</div>
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<div>“Despite the higher stamp duties, Chinese still see Australia as a long-term value," Law noted.</div>
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<div>Click here <a href="https://www.propertyobserver.com.au/images/2018/9/11/region1.jpg" target="_blank">to enlarge.</a>
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<div>"The majority of our residential buyers are purchasing for their own use, because they have children studying or working here, or because they plan to visit regularly or to retire here.</div>
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<div>"Australia offers a table environment, safety, quality educational institutions, and high quality of life. Both Sydney and Melbourne rank in the top five most liveable cities in the world.</div>
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<div>“In the first half, the most popular Australian cities for Chinese buyers were Melbourne, Sydney, Brisbane, Adelaide, the Gold Coast, Canberra, and Perth.</div>
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<div>Juwai found US$14.1 billion of the $US17.4 billion spent my Chinese in Australia in 2017 was on residential acquisitions. Commercial sales totalled US$3.3 billion.</div>
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<div>“Sources like KPMG suggest that Chinese commercial real estate investment accounts for one-third of all Chinese corporate direct investment in the country.</div>
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<div>"Political tensions between the two countries have a greater impact in creating uncertainty with corporate commercial real estate investors than they do with individual investors buying residential property for their own use.”</div>
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<div>Globally, total Chinese investment in commercial and residential property hit US$119.7 billion, up 16.1% from the US$101.4 billion reported by Juwai in 2016. </div>
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Chinese property purchasing in Australia down 27 percent in 2017: Juwai 

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EXPERT OBSERVATION
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Juwai's The Foreign Buyer Restrictions Report 2018-19 has found that the world will see fewer new foreign buyer restrictions imposed in top Chinese property destinations in the year ahead than in any of the prior three years. 
The Report points out that Canada’s two largest provinces, six of Australia’s eight states and territories, and Australia’s national government have all increased the taxes or restrictions that apply to foreign buyers of real estate over the past two years.
By contrast, in the year to come, only New Zealand is likely to impose new policies targeting foreign buyers. New Zealand’s Overseas Investment Amendment Bill is now under consideration in Parliament.
The rapid upward trend in Chinese international property investment of the past decade hit the world at the same time as historically low interest rates and population growth were inflating values in popular destination cities. In some places, especially Canada, Australia, and New Zealand, Chinese buyers were blamed for the price increases that objective data suggested was actually due to other factors. 
After retreating from an exuberant peak in 2016 of $101.1 billion, Chinese international real estate investment again appears to be on a growth path, although more steady and restrained that what we saw in that golden year. The Chinese government seems comfortable with what it calls ‘rational’ growth in international investment. 
Beijing has already telegraphed that it may experiment with further loosening capital controls. China has already resumed two key outbound schemes for investment in overseas securities, which had been suspended to reduce capital outflows. These have no direct impact on foreign property buyers, but do reveal a change of direction — from tightening to loosening. The Financial Times has reported it expects some of the controls introduced over the past two years to be ‘quietly relaxed.'
AUSTRALIA The Reserve Bank of Australia, the Australian Treasury, and a Parliamentary inquiry have all found that foreign buyers do not cause house-price inflation in Australia. The national government and six of the eight states and territories have none-the-less found it hard to resist targeting this group with no voice in the political process. Taxing foreign buyers gives state governments the appearance of taking action without having to tackle stamp duty and the planning mechanisms that are a major cause of the affordability crisis. The top Australian destinations for Chinese buyers are Melbourne, Sydney, Brisbane, Adelaide, and the Gold Coast – followed by Canberra and Perth.
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CANADA Canada has seen high bars placed in front of new foreign property buyers over the past two years. But we think that in 2018–19 it is unlikely that new restrictions or taxes will be imposed. New mortgage regulations have weakened the market, by dampening the primary drivers of higher prices, which is local buyers taking advantage of low interest rates to trade up or buy investment homes. 
The most popular Canadian destinations for Chinese buyers are Toronto, Montreal, Vancouver, Calgary, and Ottawa. 
NEW ZEALAND New Zealand is the sole major investment destination in the world that we consider to be very likely to impose new foreign buyer restrictions this year. The Overseas Investment Amendment Bill with its recent amendments would have the advantage of finally putting to an end the political uncertainty that has been ongoing since before the last election. 
The most popular destinations in New Zealand for Chinese buyers are Auckland, Christchurch, Wellington, Queenstown, and Hamilton. 
THAILAND In Thailand, new restrictions on foreign homebuying do not appear likely. Weak economic growth and the desire to tap overseas investors for the massive Eastern Economic Corridor project play role. Thai nationals are already protected by rules that prevent foreigners from owning land and more than half of the units in apartment buildings. 
The most popular destinations for Chinese property buyers in Thailand are Bangkok, Pattaya, Chiang Mai, Phuket, and Ko Samui. 
UNITED KINGDOM In the UK, the only potential legislation restricting foreign homebuyers that we foresee would address illegal Russian investment, not other buyer groups. We believe anxiety about the potential property-related impact of Brexit, currently weak markets, a dependency on foreign luxury in London buyers, and the UK’s proud tradition as a financial and investment center will prevent other measures. 
The most popular destinations in the UK for Chinese buyers are London, Manchester, Liverpool, Birmingham, and Edinburgh. 
UNITED STATES The United States offers the freest market, the largest market, and the most diverse market of any major investment destination for Chinese property buyers. That’s why it attracts the greatest amount of investment year after year. We foresee no new restrictions in the US this year, except perhaps for legislation that prevents the acquisition of real estate near critical military bases. The EB-5 visa program is also a perennial candidate for reform. While changes to the investment visa program with the deed affect Chinese nationals, it is not a residential property investment policy. 
The top American destinations for Chinese property buying are Seattle, Los Angeles, New York, Houston, and Orlando.
Carrie Law is the CEO and director of Juwai.com, the No. 1 Chinese international real estate website and the exclusive international real estate partner to Chinese online giant Tencent.
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New taxes targeting Chinese property investment set to drop worldwide: Juwai

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Official FIRB data has confirmed a collapse in approvals for foreign investment in Australia’s housing market.
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The Foreign Investment Review Board’s annual report reveals a 67 per cent fall in residential real estate approvals last financial year — down from 40,149 approvals to just 13,198 approvals.
The value of FIRB approvals fell from $72.4 billion to $25.2 billion in fiscal 2017.
The large numbers of residential foreign buyers from the boom of 2012-17 are unlikely to be repeated, a UBS report tips.
During 2016–17, 1,669 residential real estate compliance cases were identified for investigation (down from 2,104 cases in 2015-16). Of these, 1,409 investigations were completed (1,637 in 2015–16), which identified 549 properties acquired in breach of Australia’s foreign investment rules (up from 260). There were 96 residential properties divested by foreign persons (up from 54 in 2015–16) totalling nearly $97 million.
Victoria is the most popular state for residential real estate approvals, followed by New South Wales, with these two states accounting for 73% of all such approvals.
Queensland accounts for 18%, Western Australia for 5%, South Australia for 3%, and the Australian Capital Territory for 1%.
Chinese investors were again the largest source of foreign investment approvals by both value ($38.9 billion) and number (9,714) in 2016–17.  
China continued to be the largest source of foreign investment associated with approvals for residential real estate.
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Carrie Law, CEO and Director of Juwai.com, the No. 1 Chinese international real estate website and the exclusive international real estate partner to Chinese online giant Tencent, said the period saw half years "like night and day" in terms of Chinese investment.
"In the second half of 2016, Chinese investment were investing in Australian real estate at an almost irrational pace.
"It was like money falling from heaven for vendors and developers.
"In early 2017, capital controls, financing restrictions, and foreign buyer taxes reduced Chinese investment to more reasonable levels," Law suggested.
 “Since November 2017, we seem to have entered a period of more sustainable long-term growth. Chinese buying enquiries for Australian property in March were 5.7% higher than the month before and in Aprilthey were 22.3% higher.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/30/Chinese%20Top%20Cities%20Juwai.jpg" alt=""> 
Law added that China’s capital controls have worked.
Today, China’s foreign reserves are up, the Yuan is stronger, the flow" of money out of the country has been reduced, and fears of a devaluation have virtually disappeared.
"But they have succeeded without having to make it impossible for ordinary Chinese families to buy property overseas."
Recent research reports that a majority of Chinese households intend to increase their offshore investments in the coming two years, with real estate the asset class most favoured by outbound investors.
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/30/Chinese%20share%20by%20year%20Juwai.jpg" alt=""> 
“The big declines are partly due to lower demand, and mostly due to the changed application fees.”
<a href="https://www.propertyobserver.com.au/images/2018/5/30/FIRB%20summary%20Juwai.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/30/FIRB%20summary%20Juwai.jpg" alt="">
 Considering just commercial real estate investment from all nations, approvals dropped from $50 billion to $44 billion.
The FIRB reports that one reason for the decrease in approvals for commercial property is that under the new China-Australia Free Trade Agreement, Chinese investors no longer need request investment approval before purchasing developed commercial property worth less than $1.094 billion. 
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