Strict local credit restrictions are driving Chinese Investors to Australia. Data from Bloomberg shows a huge decrease in local Chinese investments for the second half of 2013, dropping by as much as 931 billion Yuan, equivalent to $171 billion AUD. This is the highest drop since monitoring began in 2002.
Because of this, Chinese investors are turning to Australia for investments. Year – end data shows that Chinese investors account for $992 million worth in investments in the country. Juwai, a Chinese website estimates that 63.1 million Chinese investors have the capacity to purchase overseas, where 90 million searches on average every month on the site are all about overseas property investment inquiries.
Investors have overtaken first home buyers throughout the year in Australia, and trend will continue with Chinese investors setting their sights on overseas investments.
Read more about this on Your Investment Property website.