Chinese buyers are forecast to invest $ billions in Australian property 2015
Chinese property investment in Australia estimated to reach AUD $44 billion over the next seven years
A report by global investment bank Credit Suisse predicts that Chinese nationals will continue to invest in Australian real estate. It is estimated that Chinese investment in Australia property will be approx AUD$44 billion over the next seven (7) years.
When forecasting expected Chinese residential property investment, the analysis combined information from the Foreign Investment Review Board, Department of Immigration and Bureau of Statistics . The bank’s conservative estimate is that Chinese will invest $5 billion per annum into the future.
The Credit Suisse analysis estimated that newly arrived Australian immigrants and foreign Chinese investors have already spent about $24 billion on Australian property over the past seven years. Foreigners (including Foreign Chinese) are required to purchase new properties, taking this into account the report estimates that about 12% of all new properties in Australia are purchased by foreign Chinese buyers.
Where are Chinese property investors buying property?The report suggests that the majority of Chinese property buying is occurring in Australia’s two largest cities, Sydney and Melbourne. Within Sydney and Melbourne certain suburbs are Chinese buyer hotspots such as in and around Glen Waverley in Melbourne. It is estimated that 18 per cent of all new properties in Sydney and 14 per cent in Melbourne are being purchased by foreign Chinese nationals. The amount of new property bought by foreign Chinese in other Australian cities was estimated at a much lower level (7%).
Is Chinese investors buying in Australia good for other Australian property investors and homeownersThe continued demand from Chinese property investors for Australian property is good news for homeowners, property investors and property developers as demand for Australian property, particularly new property is set to remain strong and result in sustained capital gains. However, on the contrary, this may be bad news for those yet to enter the Australian property market as prices are likely to rise quicker than many can save for a deposit.
Are you a first home buyer and want to enter the property market with a low deposit or no deposit? If you have family that would like to help you and who already own property that has increased in value since they bought it, you may also be able to get a guarantor home loan without having a deposit. Low deposit home loans are available where you can borrow up to 95% of the property value without a guarantor.
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Are you a property investor or about to buy your first investment property? With the already high demand for Australian property (as a result of population grow) increasing due to foreign demand you may want to invest in Australia property. Find out more about borrowing to invest in property.
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Are you Chinese, looking for a home loan and want to speak to a Chinese mortgage broker?If you are Chinese and need assistance from a Chinese mortgage broker, we have Chinese mortgage brokers that can help you. Our Chinese mortgage brokers can assess and compare home loan options for you so that that you don’t pay too much. If you are a Chinese property investor, our Chinese mortgage brokers can help you to find home loans that suit property investment and structure your investment home loans correctly to save you money and increase your flexibility. Ask us about home loans for Chinese property investors and consult with a Chinese mortgage broker.
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