Chinese buyers

PHOTO: NG HAN GUAN/APMany Chinese people are restricting their travel.

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.

The website offers international property listings to Chinese purchasers.

Executive chairman Georg Chmiel said only Vietnam had seen a bigger increase in activity, up 43 per cent.

But he said in-person activity was likely to remain subdued because Chinese consumers were restricting their travel.

“In several real estate markets, we already see negative impacts from the epidemic. Many people have stopped travelling and are limiting their public activities. 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.