A new phenomenon has reached our shores, as Chinese investors are lining up to snatch trophy homes in the country. The Chinese investment boom is here, and it is an absolute fact, according to Brian White, chairman of Ray White Real Estate. These investors have spent $5 billion in total for Australian homes as of last year.
Hotspot values in Sydney are three times more than the average, mainly because the properties in the area appeal to Chinese investors. There was even one instance where a property sold for $230,000 more than expected, purchased by a Chinese investor as soon as he stepped off the plane.
Foreign investments are good, provided that we do not compromise meeting the need of local home buyers.
Read more about this from the Herald Sun Real Estate website.