Chinese foreign investment in Australian property doubles
Investment from China into Australia’s real estate sector remained the highest for foreign investment approvals during 2014–2015, according to the Australian Government’s Foreign Investment Review Board annual report.
Approved investment in Australian real estate reached A$96.9 billion (US$74.7 billion), compared with A$74.6 billion (US$57.5 billion) in 2013–2014. A large proportion of these approvals involved Chinese investors.
The value of all approvals granted for China reached A$47 billion (US$36 billion) for 2014–2015, roughly 33 percent of the total value of approvals by foreign country. Approved Chinese investment specifically in real estate doubled to A$24 billion (US$18.5 billion), compared with the approved amount in 2013–2014 of A$12 billion (US$9.3 billion).
The United States followed with A$25 billion (US$19.3 billion) approved (approximately 18 percent of the total value of approvals by foreign country). Approved US investment in Austra