China Takes Top Spot as Australia Number One Foreign Investor
China was overtaken the United States and has become the biggest source of foreign investment in Australia as of last year, the source which was driven by a surge in real estate purchases is placing fears that there might be a housing price bubble.
Properties and Australia has long been a favorite choice for Chinese investors but investments seems to have speed up in the past year as a crackdown on corruption have gathered momentum. Furthermore China have receive approvals in invest around A$ 27 billion in Australia and almost half of that amount is going into real estate based on the 2014 report of the Australian Foreign Investment Review Board that oversees all international investment and demand from Chinese and Asian investors will keep on growing.
Experts also expecting that the Australian dollar will go down and will make it more attractive to Chinese investors to invest in Australian real estate. Property prices especially in Sydney, Australia is on the rise as real estate is fueled with low interest rates, limited supply of housing stock and a strong investor appetite after years of under investment.