Chinese investors who are putting their money into Australian property are more likely to buy in Melbourne than in any other Australian city, it has been reported by a leading Chinese property website.
Juwai.com, which boasts almost three million visitors a month in China, said that buyers of Chinese descent, whether they are based in the Far East, Australia or anywhere else in the world, are far more likely to invest in Melbourne than any other capital in the nation.
It said that the reason for this is the sheer volume of new developments that have been in evidence in Melbourne in the last few years, which has made the purchase of brand new properties a much easier prospect.
In many cases, foreign buyers are restricted to purchasing either off plan or brand new homes, so a city that has a high volume of new developments and plans for more to come is the ideal place for them to look.
On top of this, the fact Melbourne ranks higher for "livability" than any other city in Australia attracts investors from China to put their money into the city, according to the website.
Lifestyle benefits, such as access to desirable schools and universities, and the opportunity to buy luxury trophy homes for prices that are seen as being affordable compared to Chinese properties, are all positives that people in China are seeking in Melbourne.
Juwai.com chief executive Simon Henry said Melbourne had been the top search location in Australia for Chinese buyers for more than two years now, ranking ahead of Sydney, Brisbane, the Gold Coast and Perth for the number of people looking to buy.