The lucrative Chinese market is predicted to remain the biggest source of investment in property in Australia, continuing a pattern seen throughout 2014 and 2013.

The Australian government’s Foreign Investment Review Board (FIRB) found that Chinese buyers were the biggest overseas purchasers of property in Australia during 2013, snapping up real estate worth $5.9 billion – a 40 per cent increase on the year before.

According to Credit Suisse, Chinese property buyers are expected spend around $44 billion on Australian real estate over the coming seven years. That breaks down to around $6.3 billion every year between now and the end of the decade.

Similar predictions were made by Chinese real estate agencies, which forecast that Chinese property investments in Australian properties will increase by between 15 and 20 per cent year on year during 2015.

Brian White, who chairs real estate giant, Ray White, said: “In 2014 it became evident that Chinese investors were serious about Australian property – particularly in Sydney and the Gold Coast. As the credibility of the Australian property market continues to strengthen in China, the level of investment will undoubtedly increase.”

The increased investment is being bolstered by the fall in the Australian dollar, which has made buying real estate in Australia more affordable for Chinese buyers. The Chinese yuan was worth around 16 Australian cents four years ago, but is now worth nearer 20 cents.

The increasing interest from China is also forecast to help prop up the Australian construction industry as more properties are built to meet the high demand.

Please contact us in case of Copyright Infringement of the photo sourced from the internet, we will remove it within 24 hours.