Mainland China’s investment in commercial real estate in Australia dropped due to new government policies introduced in 2016, totaling $225.8 million in 2019, reported Financial Review, citing JLL data.
However, Hong Kong capital increased from $456.6 million to approximately $2.1 billion in 2019.
And Singapore was the biggest foreign buyer by country with about $4.3 billion invested directly in Australia’s commercial property market last year followed by about $3 billion invested by the United States. The majority of the capital from Singapore was from GIC, its sovereign wealth fund, or Singaporean REITs, which have a desire to seek geographical diversification in their portfolios, including assets in Australia.
