Chinese Buyers Investing in Australian Properties
This story from CCTV News covers the growing trend of Chinese investors buying into the Australian property market.
The growth of Chinese Investment
It’s no secret that property markets in Australia, especially Sydney, are booming at the moment. And one of the driving forces is the increasing number of buyers coming from Asia, especially China, with combined local and overseas demand far outstripping current supply.
As journalist Hannah Belcher explains, China is now the strongest foreign investor in the Australian real estate market. Since 2007 more than $60 billion in Chinese funds has been invested in Australian properties, with buyers taking up everything from modest terraces to high-end harbour view homes.
Some real estate agents are now specifically targeting their services to the needs of Chinese buyers. One such, John McGrath of McGrath Real Estate, says that he has seen a particular surge in Chinese investment in the past two or three years.
Pro and Cons
While some Australians may be nervous about large amounts of overseas investment in the Australian property market – and this perspective is briefly canvassed in the story – the Chinese influx of capital is not necessarily a bad thing. Strong demand, including from China, means that those with investments should continue to see the value of their portfolios grow in the foreseeable future.
It does however make purchasing property, especially in booming areas like Sydney, an increasingly competitive operation. Understanding the nature of this competition is a key step towards success on auction day.
Property Investment Company in Sydney
Contact Rass Global Investment for professional advice and guidance on investing in Sydney’s increasingly competitive property market.