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Australia attracts almost half of Asia Pacific property investment

Research shows that real estate investors from the Asia Pacific region are increasingly looking to Australia.

Almost half (45 per cent) of real estate investment in the Asia Pacific region is directed to Australia, a report has revealed.

Investment research firm Jones Lang LaSalle told reporters at an economic outlook seminar that Australia attracts more than double the investment of its nearest competitors, Japan (19 per cent) and China (18 per cent).

A significant amount of the money spent on Australian property comes from overseas, Jones Lang LaSalle head of research and consulting David Rees said.

Mr Rees explained: "Australia punches well above its weight in terms of direct investment.

"Last year 29 per cent of investment came from offshore – an all-time record." He addd: "[People] are investing in the region because of the long-term growth prospects with a big shift to Australia." 

A recent report in The Australian suggested tax changes to the country's superannuation savings schemes could drive up property prices. People from China are more keen to move to Australia following the recent rise in capital gains tax there.

Posted by Ravin Chatlani

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