Capital totalling $76 billion could be invested in the Australian property market as China loosens its capital export restrictions.
The Chinese government’s decision to allow citizens to invest directly overseas could deliver $898 billion to international residential real estate markets, according to Juwai, a listings portal for China-based real estate investors.
Co-chief executive Simon Henry said this figure assumes that wealthy Chinese allocate about 10% of their total assets to international real estate.
Chinese interest in Australian property is up 35% month-on-month and shows a steady and stable increase over time.
“Overall, the market continues to grow as new Chinese buyers begin to participate in international property investment for the first time,” says Henry.