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Australia now second-most attra...

Australia now second-most attractive for foreign investment

Australia has been named as the number two destination in the world for foreign property investment, coming in behind only China, the Sydney Herald reports.

Australia has been named as the number two destination in the world for foreign property investment, coming in behind only China, the Sydney Herald reports.

According to the CBRE's latest Asia Pacific Investor Intentions Survey, 18 per cent of foreign investors chose Australia as their number one preferred destination for buying property.

It put it into second place, with 28 per cent of respondents saying the same of China, which topped the list.

Chinese investors themselves are among the most common investors in Australia, snapping up approximately 12 per cent of all new homes that are built across the nation.

Sydney and Melbourne were third and fourth on the list of cities that foreigners want to buy property in in the Asia-Pacific area, with only Tokyo and Shanghai sitting above the two Australian cities.

In Australia, as well as houses, investors are typically looking to put their money into areas such as offices, industrial property and the logistics sector.

Posted by Steve Douglas

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