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Asian investors to spend heavily in Australia

Asian investors are to continue to increase their spending in Australia in the years ahead.
Asian investors are set to compensate for a correction in their own property markets by heading to Australia and buying property in larger numbers, experts have said.

In recent times, Chinese buyers in particular have been prominent in Australia, snapping up more than 12 per cent of new homes.

And now that property prices in China are starting to fall slightly as a result of previous overheating, Credit Suisse said this will cause more people from the nation with money to turn to very strong markets like Australia. 
It advised that over the next seven years, the amount invested in the property market by Chinese buyers will amount to some $44 billion (£24 billion).

“Residents in Sydney and Melbourne are understanding that the rules of property prices are changing and should expect even more demand for local real-estate from Chinese investors as they look for a more stable store of wealth," said Hasan Tevfik, equities strategist for Credit Suisse.

Posted by Craig Francis

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