Chinese buyers have taken centre stage on Australia’s property scene following an exponential surge in real estate investment from offshore markets.
China is by far the biggest foreign buyer of residential and commercial property, proposing $24.3 billion of spend in 2014-15 – more than triple the United States and six times the outlay from Singapore, the Foreign Investment Review Board annual reports shows.
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Australian first home buyers and Chinese investors are unlikely to compete for the same property. Photo: Alistair Walsh