Chinese investments in Australian property doubles as FIRB real estate approvals overall jump 75 per cent

The Age

Chinese investment in Australian real estate has doubled. Foreign appetite for Aussie homes, from all corners of the globe, has surged in the past financial year, with the value of proposed investment rocketing by more than 75 per cent. Some property pundits believed the extra taxes and crackdowns would slow Chinese investment, but Chinese property portal ACProperty director Esther Yong expects momentum to continue. Ms Yong said Chinese buyers were concerned about investing in countries with a lack of regulations, so increased regulations in Australia may provide Chinese buyers more confidence in the long-term.