The level of investment from China is set to grow over the coming months, according to Grant Thornton Australia.
Sian Sinclair, head of real estate and construction at the company told Australian Property Investor that new rules are being introduced that will allow Chinese insurers to invest up to 15 per cent of their assets in overseas property, meaning the Australian market could be about to see a significant increase in interest.
He commented: "The key will be actively marketing to these investor groups as we're competing with strong markets including the UK, US and so on."
Mr Sinclair added that these relaxed new rules will open up more than 45 world markets to investors from China.
Recent data published by Knight Frank has highlighted a growing level of investment in Australian property from Asia.
The report revealed how 50 per cent of homes valued between AU$650,000 and AU$850,000 are being snapped up by overseas buyers.
Posted by Craig Francis