The Chinese Chamber of Property Investors (in Melbourne) has been established to properly inform and protect the rights of Chinese investors in relation to Australian property acquisitions. I think its sad that such an organisation is necessary, but if it gives a greater level of comfort to those looking to invest here - then I'm all for it!
I think the issue for Australian regulators is more about how do we identify & appropriately reprimand those 'dodgy operators' that are responsible for these bad experiences to Chinese buyers and potentially discouraging future investors.
CHINESE property investors are being taken advantage of by dodgy operators and discriminated against by the Australian public, a leading Chinese businessman has warned. Wayne Tseng, the president of the Chinese Precinct General Chamber of Commerce, said coming from a country where individual and consumer rights were relatively new concepts, Chinese were often easy targets. Mr Tseng, who migrated to Brisbane in the 1970s, has founded a new group based in Melbourne, the Chinese Chamber of Property Investors, to represent local and foreign Chinese and inform them of their legal rights. He told news.com.au both Chinese and Australian operators were guilty of bad behaviour. "They have to navigate the complex procedure of buying or selling a property and unfortunately some of the operators do take advantage of the fact that the Chinese are not knowledgeable of the system,” he said.