Chinese purchase billions of dollars worth of real estate in Australia annually

https://www.rt.com/business/395489-china-australia-real-estate/

China’s investment in foreign real estate reached a record $133.7 billion last year, according to property website Juwai.com. Australia stayed very much in demand with Chinese buyers last year, it said.

Statistics show Chinese buyers purchased $23.8 billion worth of Australian property in the 2016 financial year compared with $18.4 billion in the previous year, according to the website, as cited by Business Insider Australia.

While demand remains high, China’s property investments in Australia are unlikely to remain at last year’s levels once results for the 2017 financial year are released.

“In Australia, we see that investment flows have decreased markedly from their peak while remaining strong by historic standards,” said Sue Jong, Chief of Operations for Juwai.com.

“Capital controls, bank lending standards and foreign buyer taxes have combined to wind back the clock to 2015,” she said.

Melbourne, Sydney and Brisbane are the three most-searched cities in Australia, the report showed. Chinese investors have often been blamed for Australia’s escalating house prices which surged 20 percent last year.

———-

“Statistics show Chinese buyers purchased $23.8 billion worth of Australian property in the 2016 financial year compared with $18.4 billion in the previous year”

it keeps going up..but..

“China’s property investments in Australia are unlikely to remain at last year’s levels once results for the 2017 financial year are released.”

and when they stop..what occurs?

401

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~ by seeker401 on July 12, 2017.

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