WHAT is the real expenditure beyond $24 Billion from Chinese buyers of Australian residential property?

HOW can “higher stamp duties, fees and charges” impact foreign buyers of Our Real Estate if they circumvent Australia’s banking system?

HOW can “higher stamp duties, fees and charges” impact foreign buyers of Our Real Estate if they circumvent Australia’s banking system?

There is no legislation preventing an onshore PROXY laundering black cash in our Real Estate.

-ON 9 October 2018 the Morrison Govt exempted the Real Estate Sector from liability of “money laundering” in Australian Real Estate!

-therefore this Government is complicit in our “over-priced” real estate LOCKING OUT AUSTRALIAN FIRST HOME BUYERS!

-Foreign Buyers gain Permanent Residency following Real Estate purchase!

 

In 2017 Carrie Law CEO of Juwai explained people could still enter into a money exchange store for remitting up to 10,000 RNB to Hong Kong without checking their ID, and this can be done multiple times; a legitimate channel for remitting money to launder in Australian real estate.

VIEW:  VIDEO

WHAT is the real expenditure beyond $24 Billion from Chinese buyers of Australian residential property?

AND what is the real population total for Sydney with so many “new residents” and illegals?

CHINESE BUYERS SPENT $24 BILLION on Australian real estate last year – making up three quarters of all foreign property buyers

  • New report reveals Chinese property buyers spent $24billion in Australia in 2017
  • They comprised three quarters of all foreign property sales during the last year
  • According to Juwai, Australia is seen as good long-term value for Chinese buyers

 

According to a new report by real estate website Juwai on Chinese global property investment, three quarters of foreign home buyers in 2017 were from China.

*Despite higher stamp duties, Australia has remained attractive foreign buyers due to the country’s stability, safety and quality of life.  *

Chinese buyers spent $24billion on Australian real estate during the last year, making them by far the largest group of foreign purchasers (pictured is a Sydney ad targeting Chinese buyers)

Chinese buyers spent $24 billion on Australian real estate during the last year, making them by far the largest group of foreign purchasers (pictured is a Sydney ad targeting Chinese buyers)

According to a new report by real estate website Juwai on Chinese global property investment, three quarters of foreign home buyers in 2017 were from China (pictured is a Sydney auction)

According to a new report by real estate website Juwai on Chinese global property investment, three quarters of foreign home buyers in 2017 were from China (pictured is a Sydney auction)

Juwai CEO and Director Carrie Law (pictured) said Chinese property buyers still see Australia as good long-term value

Juwai CEO and Director Carrie Law said Chinese property buyers still see Australia as good long-term value.

 

‘The majority of our residential buyers are purchasing for their own use, because they have children studying or working here, or because they plan to visit regularly or to retire here,’ she said.

‘Australia offers a stable environment, safety, quality educational institutions, and the high quality of life. Both Sydney and Melbourne rank in the top five most livable cities in the world.’

CHINESE PROPERTY PURCHASES IN 2017

– Chinese purchased $23.9 billion of Australian real estate in 2017

That consists of $19.4 billion in residential and $4.5 billion in commercial acquisitions

– That’s down $8.8 billion or 26.8 per cent from 2016’s total estimate of $33 billion

– New Zealand received $1.4 billion in investment

– Total Australia and New Zealand investment was down 23.2 per cent from 2016

Source: Juwai 

Ms Law listed Melbourne, Sydney, Brisbane, Adelaide, the Gold Coast, Canberra and Perth as the most popular cities.

But political tensions could impact commercial real estate investment, which makes up one-third of all Chinese corporate direct investment in Australia, Ms Law said.

*According to Juwai’s estimates there was about $100 billion spent on new dwelling sales in 2017, and about $25 billion of that was spent by foreign buyers.

Chinese buyers in turn accounted for about 75 per cent of the foreign buyer spending – an investment of almost $20 billion.

The massive spend came despite capital controls, financing restrictions and new foreign buyer taxes and restrictions combining to reduce Chinese investment by $8.8 billion from 2016.

Chinese buyers spent another $4.5 billion on commercial acquisitions in Australia, and purchased another $1.4 billion worth of property in New Zealand.

Video playing bottom right…

Despite higher stamp duties, Australia has remained attractive foreign buyers due to the country's stability, safety and quality of life (pictured is a Sydney ad targeting Chinese buyers)

Despite higher stamp duties, Australia has remained attractive foreign buyers due to the country’s stability, safety and quality of life

(pictured is a Sydney ad targeting Chinese buyers)

SOURCE:  https://www.dailymail.co.uk/news/article-6141905/Chinese-spent-24BILLION-Australian-real-estate-year-three-quarters-foreign-buyers.html