Slower growth in China doesn't mean less investments in Australia
Australia's cooling housing market did not stop Chinese property investor inquiries jumping 87 per cent in 2015, new data from online show.
In the most targeted market of Sydney, Chinese buyers set their sights on Waterloo, Bankstown, central Sydney and Turramurra. In Melbourne, they focused on Brighton, Port Melbourne, South Yarra and Surrey Hills.
Chinese buyers have also found better value in lower prices in the Queensland market.
Another survey by an apartment marketer of 150 Chinese real estate offices has found zero appetite for units under 50 sq m, with most Chinese buyers looking for apartments or townhouses units sized between 50 and 200sq m.
More than half of these buyers had a budget of less than $700,000.
CHINESE INVESTMENTS WILL CONTINUE TO GROW
Overall, Chinese investments in Australia including real estate will continue to grow in 2016 after a strong 2015 which saw Chinese capital in Australia double from the year before and the average deal size grow to $960,000 from $800,000, a international property agent said.
Larger institutional investors such as insurance and asset management companies and developers will be joined by new players, small to mid cap companies and private equity funds, the company added.
These investors are looking to enhance yields and hedge against uncertainty and invest away from the gateway cities of Sydney and Melbourne.
The Australian Financial Review
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