What do Chinese People Want?
Question: I know Chinese want luxury property but what about fixer uppers? Can I sell a fixer upper to a Chinese buyer?
Answer: Fixer uppers are generally not preferred by Chinese. However, many will buy a fixer upper and simply tear it down and build a luxury property in it’s place. Especially if it is in a good school district. Many Chinese buyers intend to tear down the homes and build new ones so don’t be afraid to show a beater in a nice area to wealthy Mainlanders.
This does not apply to Australia. In Australia, foreign buyers can only buy new builds.