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Chinese investors a growing market
Chinese investors have been flocking to Australia since the Chinese government introduced controls on the domestic property market, an industry expert has claimed.
Managing director of Window to China Simon Lam said Chinese investment was a growing market segment, with Chinese buyers making up the third biggest source of foreign investment in Australian real estate.
“In March 2013, the new Chinese government introduced a series of policies attempting to control the bubble of the local property market,” Mr Lam said.
“I called that a blessing to Australia because it forces lots of Chinese investors to park their assets overseas,” he said.
Chinese investment in the Australian market accounted for $4.2 billion worth of transactions, a 75 per cent jump since 2010 according to Mr Lam.
He praised the Australian government for demonstrating their support for foreign investment with the creation of a new visa class, a free trade agreement with Asian countries and changes to foreign investment policies.
Australia appeals to Chinese buyers due to its political stability, proximity to Asia, strong education system and attractive lifestyle, he said.
Window to China conducted a property expo for Chinese investors in Sydney at the end of October and will be holding another event in Melbourne from 23 November.
The events aim to provide a 'one-stop shop' for Chinese investors with an interest in the Australian real estate market, according to Mr Lam.
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