Chinese investors are snapping up a quarter of new properties on the market as younger, cashed-up buyers arrive.
They are part of a growing number of foreigners casting their eyes to Australia as a nearby source of wealth with an enviable lifestyle.
‘We say limited English, unlimited bank accounts,’ Melbourne real estate agent Tim Heavyside told Sunday Night of many buyers – even in the outer suburbs.
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Real estate agent Monica Tu said she was selling the ‘Chinese Australian lifestyle’, which was the biggest appeal for any wealthy investor