The Chinese Obsession with Australian Property
China has 16.5 million high net worth individuals and 568 billionaires. Their combined net worth is equivalent to Australia’s GDP.
Chinese investors are seeking properties in capital cities with solid infrastructure and strong capital yields and rental returns. As with most property buyers, lifestyle plays an important factor. Water views, cityscapes, and other superb location and quality finishes will command a premium with Chinese investors – especially the high net worth individuals paying top dollar for luxury properties.
Red Door’s research with Channel Agents has revealed the average investment range for popular cities in Australia is AUD $500,000 to $950,000 for the burgeoning middle class. One of the most common purchase reasons being that they are looking to secure their children an apartment to live in whilst studying in Australia.
Many Chinese investors have access to both legitimate and hidden income and wealth, and seek to invest both of these in overseas real estate. Most investors have significant overseas portfolios already, meaning they can easily relocate their money. This is at a time when China is in the grip of its own housing affordability crisis and investors are looking outward to solve the problem.
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