People from China looking to buy a property in Australia could be aided by a new listings website due to be set up by Real Estate Australia Group (REA).
The site will be titled myfun.com, with "my fun" being translatable to "buy property" in Mandarin, advertising apartments, houses and land.
Chief executive of the REA Group Greg Ellis said: "We wanted to create a customised user experience for Chinese consumers to ensure they could access relevant information in a format that would suit their property search requirements."
Property listings will be presented in mandarin and enquiries will be directed to a representative at the website who can connect buyers with the real estate agent.
Among foreign property investors, China accounts for a particularly large portion. Statistically, more people move to Australia from China than anywhere else in and around South East Asia.
Mr Ellis expects that the new website will help to reduce the amount of time that properties stay on the market.
Posted by Ravin Chatlani