{"id":42531,"date":"2023-03-10T10:28:20","date_gmt":"2023-03-09T21:28:20","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=42531"},"modified":"2023-03-10T10:29:25","modified_gmt":"2023-03-09T21:29:25","slug":"foreign-house-buyers-in-australia-who-is-snapping-up-the-lucky-country","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/foreign-house-buyers-in-australia-who-is-snapping-up-the-lucky-country\/","title":{"rendered":"Foreign house buyers in Australia – who is snapping up the ‘lucky country’?"},"content":{"rendered":"

PHOTO: Foreign house buyers. FILE<\/strong><\/p>\n

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Buyers from China dominate foreign investment in Australian residential real estate, with $1.6 billion in proposed purchases approved in the six months to the end of December last year, official figures show.<\/p>\n

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Property Noise Australia Advertising Rates \u2013 2023<\/a><\/h2>\n<\/header>\n<\/div>\n

That demand is tipped to grow more strongly\u00a0after China\u2019s decision to reopen its borders\u00a0took effect in early January.\u00a0A subsequent edict by the Chinese government that its foreign-enrolled students return to campuses for face-to-face teaching\u00a0could boost buyer demand even further.<\/a><\/p>\n

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Back in business: Chinese buyers inspecting plans for a Sydney apartment development during the last boom.\u00a0Fiona Morris<\/cite><\/strong><\/em><\/figcaption><\/figure>\n

Foreign Investment Review Board figures released this week show China was the largest source of investment for residential real estate investment proposals by number and value \u2013 at $600 million \u2013 in the December quarter. The year-to-date tally of $1.6 billion is already more than half the totals achieved in 2021-22, at $2.4 billion, and 2020-21, at $2.7 billion, when pandemic travel restrictions were still in place.<\/p>\n