PHOTO: Chinese buyers. FILE
Chinese home buyers have intensified their pursuit of the Australian housing market, securing $3.4 billion in approved residential real estate acquisitions during the 2022-23 fiscal year, marking a remarkable increase of over 40 percent compared to the previous year. The latest report from the Foreign Investment Review Board, released in the late part of last week, highlights the growing interest of Chinese investors in Australian residential properties. Specifically, the data reveals that during the June quarter alone, there were 826 approvals for such investments, totaling $1.1 billion in value.
This surge in Chinese interest was spurred by China’s decision to reopen its borders in early January. Furthermore, a subsequent directive from the Chinese government requiring foreign-enrolled students to return to in-person classes could potentially drive even higher demand from Chinese buyers.
https://propertynoise.co.nz/au/the-suburbs-chinese-buyers-are-flocking-to/
https://propertynoise.co.nz/au/real-estate-expert-warns-of-tension-at-australian-auctions-as-chinese-buyers-outbid-locals/
