A recent sale in Sydney with the help of technology could change the way we view property.
We rely on our smartphones more than ever. To get around the city, to keep in touch with our friends and now to search for and purchase real estate. This has been been proved by an investor in Hong Kong who bought a property in Sydney Australia via the iPhone feature FaceTime. The purchaser ‘viewed’ the property via their smartphone rather than in person. The agent walked the purchaser through the property in 40 minutes. The next day he made an offer of AUS 3.65 million despite being 7,000 kilometres away.
Marketing platforms such as Dot Property have made it even easier for investors to buy property overseas. A vital research and marketing tool enabling purchasers to look at properties worldwide at their finger tips. The use of social media platforms are increasingly being used. From Facebook to Instagram in order to market properties and generate more enquiries. Such medians will never be able to replace physically being in a property, but what they do is enable purchasers to whittle down a short list without having to go and view. Essential considering that many people are time short and do not want to waste valuable time on viewings.
For this transaction by the Hong Kong investor, it signifies a new era in house purchasing. As property purchases are continuing to go in an upwards trend in Hong Kong, many residents are looking further afield as where to invest their money. This is coupled with a depreciating Yuan and restrictions of the movement of money out of Mainland China. Subsequently more international transactions are anticipated and are likely to occur in this manner.
Real estate agency Knight Frank state that Chinese investors and developers spent an impressive USD 1.7 billion in Australia in the first half of 2016. The use and development of technology will make these spending sprees even easier. It is likely that more properties will be purchased through these means.