bilaterals.org | OZ: Chinese property ‘buying spree’ to accelerate in 2015
Australia’s Free Trade Agreement (FTA) with China is expected to boost Chinese acquisitions of real estate portfolios across the Australian eastern seaboard.
Justin Epstein, founder and executive director at One Investment Group said Australia is viewed by foreign investors as a safe haven, given our economic stability and transparent regulatory environment.
“In the past year, there has been significant buying activity among Asian investors interested in securing Australian residential land banks, hotels, office buildings and agricultural landholdings, and we expect this to grow substantially now that the agreement is in place,” Mr Epstein said.
“Chinese developers for instance, have snapped up development sites in major Australian cities such as Melbourne worth billions of dollars,” he said.
Mr Epstein explained that the falling Australian dollar is making local property assets cheaper and more attractive to foreign investors seeking a stable market to invest their capital.
“This buying spree isn’t expected to slow and competition for quality assets between local and Chinese buyers will likely push up prices for in-demand locations in 2015,” says Mr Epstein.
