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China and North America leads ...

China and North America leads the way in foreign investment

Chinese and Canadian buyers command the biggest share of the market.
We all know that Chinese buyers have been the most active in the Australian property market in recent years, but according to a new report, there are some surprises in the rest of the list of the top investors from overseas.

The Foreign Investment Review Board looked at the money coming in from different nations, and found that the Chinese are way out in front, spending $5.9 billion (£4.03 billion) in the last year.

However, in second and third place, surprisingly, were the US and Canada, with investors from these places spending some $4.9 billion and $4.4 billion respectively.

Singaporean investors came behind these two to make up the top four, but they were a long way behind with just $2 billion spent in the past year by those from this nation.

The report comes as the Reserve Bank of Australia has revealed that foreign investment has had a rather steady market share over the past two decades, meaning those from overseas are not the main reason for recent years' price growth.

Posted by Ravin Chatlani

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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