$60 Billion Chinese Property Love In

A report released yesterday by Sydney based Credit Suisse analyst Hasan Tevfik predicted massive inward investment into Australian real estate particularly in Melbourne and Sydney.

The report highlighted the proposed new foreign investment rules that could make Australian real estate less attractive for Chinese buyers, but that, "the potential erosion of demand will be marginal".

Tevfik’s report went on to say “Australia is on the doorstep of the greatest wealth creation in three centuries. Despite moderating growth in China, we expect more Chinese wealth to be invested abroad."

"We expect $60 billion of additional Chinese demand for Australian housing over the next six years to 2020. This will be more than double the $28 billion over the past six years, this is positive for the Australian economy, in our view,” the report said.

Asian Wealth Times reported recently on the purchase of a Melbourne penthouse by a China based businessman which broke price records.

 

WEB'S BEST

Top stories from across the globe

  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
  • Former Goldman's Partner in Boutique Venture
  • Hong Kong and Singapore in Push for Fee Transparency
More

PHOTO GALLERIES

finews.asia Networking Event

finews.asia Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.