I live in Glen Waverley, I see a lot of the International Chinese buying most of the houses in glen waverley just wondering where they have make all that money from to buy house for million, I didn't think China paid all that well over there?
International Chinese buying property in melbourne Glen Waverley
- Thread starter flatlinerz
- Start date
Why do you feel the need to question where they "make all that money from?"
Australian-born Chinese borrow the money from the bank the same as Australian-born Europeans, and Australian-born Greeks etc.
Are these International Chinese cash buyers? Perhaps they borrowed from their Bank of China? Perhaps they are the head of a Chinese corporation? Do you know how many Chinese millionaires there are?
According to an estimate I read recently there are over 875,000 people in China whose net worth is over $1.46 million and 51,000 people with a net worth higher than $14.64 million.
How do you know they're international chinese and not chinese australians?
From what I understand, they don't have much of a middle class there. Majority may be poor but the few who happen to own the factories, workshops or other businesses have tons of money.
Also, some asian cultures are terrified of debt and pool all the families money together when buying a house. Or at least all have jobs and all contribute to paying it off quickly - ones in our street do this. They then do the same for the next person in the house who is ready to get married/move out.
From what I understand, they don't have much of a middle class there. Majority may be poor but the few who happen to own the factories, workshops or other businesses have tons of money.
Also, some asian cultures are terrified of debt and pool all the families money together when buying a house. Or at least all have jobs and all contribute to paying it off quickly - ones in our street do this. They then do the same for the next person in the house who is ready to get married/move out.
Are you sure they're all mainlanders? I think there are a lot of people from HK and Taiwanese there too.
It is not just down to the having the money available - they are willing to pay really big for their kid's academic success (i.e. for anything in the GWSC zone)
The Y-man
I read a lot of stuff Jerry, I can't recall, but if you google: "how many millionaires in china" there's over 1,000,000 threads on the subject that should give you some reading material.
what a classic question.
i think china must have doctors, lawyers, business ment etc. There all not ploughing the fields or sowing clothes!!!!
i think china must have doctors, lawyers, business ment etc. There all not ploughing the fields or sowing clothes!!!!
glen waverley has a good secondary school. would most likely be the 2nd balwyn in the coming years. As for china, guess you haven't been reading the news about its growth. they had the highest increase in millionaires in the world although having just come back from there, wouldn't trade anything to live in melbourne. Wish i had a place in glen waverley.
Would or wouldn't trade anything. I am not sure if you would prefer to live in Glen Waverley or China.............I have not been to China (Hong Kong - dont count) but i have been to Glen Waverley.
I lived in China (Nantong) for 2yrs. 2001 thru 2003
Absolutely FANTASTIC place. I loved it.
I used to live in Rowville, not glen Waverley, but close
. I live in Brisbane now.All that said, moving back to China wouldn't phase me too much. I prefer Australia, but China..... what a place.
BTW I'm white Australian, born in Brisbane. Just wanting to clarify incase some think I'm Australian born Chinese.
I reckon they stole it LOL ?!?!!
