Inquiries from Chinese buyers looking at New Zealand real estate have increased 32 per cent since the outbreak of coronavirus, property website Juwai's executive chairman says. As a result, in real estate markets around the world where Chinese buyers are usually active, we see a reduction in the in-person presence of Chinese buyers at auctions, a similar decrease at inspections and open houses, and the stalling between contract signing and final settlement of some transactions involving Chinese buyers. He said whether the New Zealand inquiries would translate into sales would depend on the residency status of the purchasers. "Most so-called 'Chinese' buyers in New Zealand today actually are either legal residents or have even become citizens. Chmiel said New Zealand's property market became more appealing to international buyers in times of international strife.

Source: Stuff February 19, 2020 00:21 UTC