Monika Tu

Chinese homebuyers ‘are getting picked on’

PHOTO: Monika Tu is the founder and director of Black Diamondz Property Concierge Picture: Hollie Adams/The Australian

According to realestate.com.au wealthy Chinese homebuyers will flock to Australia next year despite the current trade issues with China, but the future beyond 2022 looks less optimistic, according to a prominent Sydney real estate entrepreneur.

Monika Tu, whose firm Black Diamondz helps rich incomers transition into the Australian market, said key drivers were lifestyle, education and business prospects.

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Monika Tu joins Luxe Listings Sydney

And despite the Covid pandemic, she said her business – which has an annual turnover of $200m – “keeps growing”.

“Australia is an attractive place to live because of the stable political environment, strong economy and good education,” Ms Tu says.

“The people I’ve been working with, they’re all from 35 to about 65 years old and they’re all successful business people.

“They come to Australia, not just here to retire, they come here to look for an international opportunity to invest or to work, and to grow or expand their business. Lifestyle is number one and then education.”

She also notes the attractiveness of a friendly community, proximity to China by comparison to Europe or America, and clean air.

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