Interest in the Australian property market by Chinese investors is not slowing down, with Ausin Group – who specialise in residential and commercial property sales for Chinese investors – expecting to double the amount of loans they arrange for Chinese buyers and increase home sales by two-thirds.
According to the Sydney Morning Herald, the company forecasts to grow the $900 million in residential property sales they have achieved over the past 12 months to $1.5 billion new residential property sales in the year ending 30 June. They also expect to reach $500 million worth of mortgages they arrange through Australian banks in 2015.
The reasons Australia is attractive to Chinese investors is our location – we are not too far away and we have a similar time zone, we have a respected education system, an attractive lifestyle and it is becoming increasingly harder to invest in China.
Foreign investment has come under scrutiny, with some pundits blaming it as a factor in the painful state of housing affordability in Australia. Chinese investors have also been accused of bending the rules
when it comes to investing in Australian real estate.
The hotspots for Chinese buyers are Brisbane, Sydney and Melbourne.