As the Chinese real estate market cools, China’s property investors are turning to Australia to invest their money.
This is the fifth month that house prices in China have fallen and investors have chosen Australia, as our houses are perceived as "cheap" compared to what is available in the big cities in China. Australia also has a lower home loan deposit than China.
The Chinese are so interested in the Australian property market that they hold exhibitions in major capital cities to promote Australian property.
In Queensland, Chinese buyers have tripled their spending on real estate, farmland and commercial property, outlaying $462 million last financial year.
This incredible spending has knocked Americans out of the market, making the Chinese our biggest source of foreign real estate investment.
This Chinese investment has encouraged investment in Brisbane from Singaporean and Malaysian investors buying property worth $97 million and $32 million respectively.
Housing prices have soared across the country due to this Chinese investment. Sydney housing prices have risen 15 percent, Melbourne has risen 8.5 percent, Brisbane has jumped 5.1 percent, Adelaide 5.5 percent and Perth 3.6 percent.
This significant growth has resulted in Australian auctioneers holding auctions in Mandarin.
However, Australian’s aren’t the only ones. Portugal is also taking similar steps to accommodate Chinese investors.
This boom is only making Australian’s richer as it is easier for our homes to be purchased at asking price.