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Vineyards are the new hot property for foreign buyers

For the last couple of years, property has been the hottest asset for any foreign investors looking to spend their money in Australia, regardless of what nation they are coming from. However, as Australia continues to strengthen, more people are now looking to invest in other assets as well as real estate. 

One such asset that has been growing in prominence has been vineyards, something that Chinese buyers have been putting money into for some time now. Barossa Valley vineyards and wineries have long been a favourite with Chinese investors, but according to Toby Langley, managing director of advisers Gaetjens Langley, South Australia's premier wine growing region is starting to become ever more popular. 

He said that although there are temporarily fewer buyers coming in from China and Asia as a whole, the lower dollar is attracting new overseas investment from other nations. 

"Asian interest has cooled a little bit, possibly because of the new government restrictions on money coming out of the country and because of the slowdown in the Chinese economy," he said, adding that there is now more caution from buyers from this part of the world. 

Mr Langley said growing investment has now come from the likes of the UK, where lends Wine Estates, backed by Argentine businessman Alejandro Pedro Bulgheroni, has looked to expand its worldwide assets. 

The company earlier this year invested in Australia for the first time as it spent some $1.95 million on a 40-hectare winery. 

Colliers Internationals agribusiness director, Tim Altschwager, said that large scale deals such as these show just how well the market for wineries and vineyards is now performing nationwide. He said that the number of investors asking about buying into the sector is on the rise as of the last few months as they see opportunities in the future. 

"We're coming up to the 2015 vintage now, so winemakers are looking to secure fruit for the next vintage," he said.

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