15 Jun '18, 1am

Property market in Australia coming down from record high

A dual-pronged approach from both the Chinese and Australian governments might have finally cooled the red-hot Australian property market . NSW, Australia Chinese investment in Australian properties down by half While Chinese buyers remain one of the biggest overseas investors in Australian properties , their spending has decreased considerably last year. They invested A$15 billion in residential and commercial properties in 2017, less than half the A$32 billion recorded the year before. Investors from other countries include Canada which invested A$7.2 billion, the United States with A$6.8 billion, Singapore with A$5.3 billion and Malaysia with A$3.5 billion. Some states in Australia increased their charges for overseas buyers last year and the Chinese government also put a restriction on the outflow of investment monies. According to the Foreign Investment Review Board, ...

Full article: https://www.iproperty.com.sg/news/property-market-in-aust...

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