Chinese Investors Poised For Return

The second half of 2021 will see Chinese investors re-enter the Australian real estate market according to Asian proptech company Juwai IQI.

The property platform’s Asian Investment in Australia Q1 report indicated Australian real estate attracts more than six times the Chinese GDP-adjusted investment when compared to the United States.

Chinese investment enquiries into Australian real estate fell nearly 20% last year, due to the pandemic. However, Juwai is forecasting that number will turnaround in the second half of 2021.

“Chinese real estate enquiry levels in Australia should begin to recover in 2021 as the pandemic recedes and Asian economic wealth-creation machines continue to bounce back from their early 2020 doldrums,” a Juwai spokesman said.

Further, the Juwai spokesman said post-pandemic Australia would continue to appeal to Chinese migrants, second-home buyers, tourists and students with foreign buying made by permanent residents to reach pre-pandemic levels by the end of 2022.

A Mid-Century Modern home in Carmel, California, hit the market on Friday for just the third time in 70 years with a listing price of $4.25 million.

Located in the community of Carmel Highlands, the house is just steps from the coastline and comes with private beach access, according to the listing with Tim Allen of Coldwell Banker Realty in Northern California. Allen was not immediately available for comment.

The property last changed hands in 2010 when Hollywood screenwriter Richard Outten bought it for $990,000, public records show. Outten penned the screenplays for the 1992 movie “Pet Sematary Two” and the 1987 film “Lionheart,” and created the story for the 2012 “Journey to the Center of the Earth” sequel, “Journey 2: The Mysterious Island.” He was not immediately available for comment.

Built in 1953, the home’s mid-century charm has been preserved over the years while still being updated for modern living. Interior details include wood paneling, exposed-brick walls and beamed ceilings.

The single-level house has 1,785 square feet, which includes three bedrooms and two full bathrooms. Though not directly on the water, large windows flanking the adobe-brick, wood-burning fireplace look out at the ocean.

Sliding glass doors create a seamless flow between indoor and outdoor living. Outside, there’s a large patio surrounded by lush landscaping, and there are also meandering paths through sustainable succulent gardens, according to the listing.

In addition to its close proximity to the beach, the home is a 10-minute walk from downtown Carmel-by-the-Sea.

As of July, the median list price in Carmel is $3.1 million, up 8% from last year, even as active listings have increased 50% year over year, according to data from Realtor.com.

Chinese Investors Poised For Return

Pre-pandemic levels of interest expected by 2021.

Owned by Richard Outten, who’s penned screenplays for films including “Pet Sematary Two” and “Lionheart,” this is only the third time the home has been on the market