FOREIGN Chinese buyers are coming in droves during the Chinese New Year period this week, with property agents and portals receiving an influx of enquiries in the last two weeks.

Esther Yong, director of ACproperty.com.au, an Australian Chinese-language property portal, said their call centre saw a 35 per cent spike in enquiries over the last two weeks.

“A lot of them are calling to make appointments to view properties during the Chinese New Year period,” she said.

“For the past two years, our call centre has always been the busiest during Chinese New Year.”

Dubbed the “Golden Week”, the seven-day holiday across China during the first week of Chinese New Year is seeing millions of workers travelling abroad for the break.

“For a lot of Chinese families, this is the time when they all get to sit together to discuss about new year plans — a lot of big decisions like buying properties are made during this period too,” Ms Yong said.

media_camera This waterfront house on 11 Remembrance Drive, Wamberal is one of the Central Coast properties being targeted by Chinese buyers.

For others, the holiday period isn’t a time to be wasted. Visiting Chinese investors have been scrambling to secure flights, accommodation and private chauffeurs since late January, according to Wayne Tseng, president of the Chinese Precinct General Chamber of Commerce.

“It’s meant to be a relaxing holiday period for the Chinese to spend with family, but instead it becomes an intense shopping and spending period,” he said.

“If they are ambitious, they will inspect four or five properties in the morning, and another four or five in the afternoon.”

Mr Tseng pointed out that agents are also targeting Australian expats working in China who were returning home for the break, as foreign investment restrictions don’t apply to them.

media_camera Dana Yang-Smith from LJ Hooker Lindfield has placed ads in the local Chinese papers just in time for Chinese New Year.

LJ Hooker Lindfield agent Dana Yang-Smith is one step ahead, with her real estate advertisements hitting local Chinese newspapers on Monday to coincide with Chinese New Year.

“A lot of them may pick up the Chinese paper while they are travelling to check out what’s on the market,” she said.

Ms Smith, who said she has been busier than usual since January, received a booking from a foreign Chinese buyer in advance to view one of her properties this week, as well as a contract request before inspection.

media_camera Killara houses are expected to be popular with Chinese buyers.

“The most popular spots have been the beach areas like the northern beaches, the eastern suburbs and then the Lindfield, Killara area.”