Melbourne is the Australian destination attracting the greatest amount of interest from Chinese property investors at present, according to a new report.
Chinese property portal Juwai.com has published new analysis into activity from Chinese investors down under during the first seven months of 2017, which shows 40 per cent of property searches from China between January and July related to Melbourne, the Australian reports.
During the same seven-month period last year, the proportion of enquiries from China focusing on Melbourne came in at just over one-third (35.6 per cent), showing that interest in the city has increased somewhat over the last 12 months.
Sydney was the place attracting the second-highest number of enquiries from Chinese property investors, accounting for 17.48 per cent of the total share of searches between January and July. The total number of searches directed towards Sydney so far this year was 17,000, marking a decrease of 15 per cent over the course of the last year.
Brisbane came in third place, with 6.48 per cent of Chinese investors interested in purchasing property there. Last year, Brisbane attracted 8.54 per cent of the total share of enquiries, demonstrating that interest appears to have waned over the last 12 months.
Meanwhile, Adelaide overtook 2016 fourth place-holder the Gold Coast, with the two regions accounting for 5.26 per cent and 3.3 per cent of searches from Chinese investors respectively. Last year, the Gold Coast came ahead of Adelaide with 4.68 per cent of the share, compared to 3.53 per cent for the latter.
Perth remained in sixth place, however, with 2.6 per cent of enquiries from Chinese property investors directed towards the region in the first seven months of this year.
Speaking to the Australian, Jane Lu, head of Australia at Juwai.com, commented: "We see no let-up in demand for the future. Chinese buyers feel that international and, in particular, Australian real estate is one of the more safe and wise investments they can make."