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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.
Hollywood star Hugh Jackman and wife Deborra-Lee Furness sold their luxury apartment in Melbourne CBD, Australia quietly. Public documents showed that Jackman couples owned this for nearly 20 years.
New foreign-investment rules could lead to civil penalties and fees being imposed on property investors who are not Australian citizens.