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Foreign investment in Australian real estate has fallen 83% in two years
With a nickname like the “land down under” and an expansive Outback as one of its primary calling cards, it’s easy to picture Australia as another world.
Up to 80% of foreign property demand in Australia is from China and despite numerous impediments, they are set to continue to grow.
Fewer lower prices houses are being sold in Australia with the residential property market seeing more the number of $1 million plus home sales soaring.
Foreign investment in Australian real estate has jumped by three-quarters in 2014/15, to a record $60.75billion.
Australia’s apartment sector could see a dropping off in demand in 2016, says leading global agent, Knight Frank.