It's no secret that aspirational Chinese buyers have fallen in love with the Australian property market in recent times, but according to a new study, the nation is now the second-most popular destination in the world for these investors.
It has been reported recently that Chinese people looking to purchase in Australia snap up 12 per cent of all new homes, and now Andrew Taylor, co-founder of a leading international property portal in China called Juwai.com, said that Australia is now second to only the US in terms of overseas destinations.
He also went on to say that the appetites for buying in the country had changed, with Chinese buyers now turning their backs on yields in favour of the bigger picture.
“Chinese investors look at their real estate purchases as a generational investment ... they are different," he noted, saying that they now look at their spend as something of a long term investment.
And it may well be the case that there are more Chinese buyers coming to the nation in the years ahead to seek out better yields, with the expert noting that high net-worth groups are expected to expand at 20 per cent compound annual growth rate over the next three years.
It has been reported recently that Chinese people looking to purchase in Australia snap up 12 per cent of all new homes, and now Andrew Taylor, co-founder of a leading international property portal in China called Juwai.com, said that Australia is now second to only the US in terms of overseas destinations.
He also went on to say that the appetites for buying in the country had changed, with Chinese buyers now turning their backs on yields in favour of the bigger picture.
“Chinese investors look at their real estate purchases as a generational investment ... they are different," he noted, saying that they now look at their spend as something of a long term investment.
And it may well be the case that there are more Chinese buyers coming to the nation in the years ahead to seek out better yields, with the expert noting that high net-worth groups are expected to expand at 20 per cent compound annual growth rate over the next three years.
Posted by Craig Francis
