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Chinese finances boosting Austr...

Chinese finances boosting Australian market

Changes in financial policies within China are helping to drive up interest in the Australian real estate market.

Changes in financial policies within China are helping to drive up interest in the Australian real estate market.

Many Chinese investors are looking overseas for better returns on their money, explained a market expert.

Andrew Taylor, chief executive officer of Juwai.com, a Chinese language international property website, stressed that the Australian property market is now second only to the US in terms of attractiveness to Asian buyers.

"Our user data shows that Chinese real estate buyer interest in Australia is up about 370 per cent on this time last year, which is a huge increase," he told ABC.

"Investment, lifestyle is a major consideration. Quality education and medical and of course immigration is a strong factor. In fact the most popular bracket is $550,000 to $750,000 for houses and apartments."

In 2012, Chinese buyers invested around $4 billion in Australian property, according to data from the Foreign Investment Review Board.

Posted by Steve Douglas

 

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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