Asian parents often joke that their children are their superannuation plan. There is more truth in that than myth after developer Sunbright Development Australia launched Tao Home, an independent living residential project in Melbourne for Chinese seniors in response to demand from migrants wanting to buy homes for their parents. Launched two weeks ago, 40 per cent of the units have already been sold and Sunbright have plans for more projects in Balwyn or Glen Waverley, Mr Lang added. “We’ve noticed an increased number of buyers looking at large double-storey houses with the intention of having aged parents live downstairs. So yes, Tao Home concept is definitely something that will get more popular,” Australia’s Chinese property website ACProperty.com.au’s Esther Yong said.
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