Ultra-wealthy Chinese are leaving a trail of dollars across Australia but it is only benefiting the property sector, Universities, and luxury goods including fashion, motor vehicles and yachts.
IT has been extensively reported by credible International Anti-money Laundering organisations that Australia is awash with money laundering in its real estate!
Organisations including Transparency International, Financial Action Task Force (FATF), the OECD … that illegal funds were being parked in Australian real estate with foreign buyers keen to park it outside of China … such a frenzy meant that house prices escalated at both the low end and the top end with these buyers keen to outbid Australians.
With Chinese buyers outbidding locals this is way beyond perception that they have distorted the domestic housing market. Since 2011 in NSW the median house price has soared to some 13 times the median household income!
Real estate tours with the lure of gaining a Residency Visa!
In 2016-2017 Chinese investors poured A$32 billion into Australian property.
2017-2018 Chinese buyers invested more than A$15 Billion in real estate
How likely is it that Chinese who have acquired Citizenship or permanent residency would not have purchased property? Because it is with investment in property that they can gain a Residency Visa …
Nor do these figures include property purchased through an onshore PROXY agent!
Barry Li, the author of “The New Chinese: How They are Shaping Australia” should be amended to “Reshaping Australia” with very generous Visas tailored to benefit them! A student can apply for a Family Visa for family members , with opportunities to buy property.
AUSTRALIAN GOVERNMENT POLICIES have benefited the Big End of Town and Chinese buyers to the detriment of the majority of Australians, Our Society, and in order to make way for them our Families have been locked out of home ownership, our suburbs and villages are being rezoned to accommodate them as we lose Our Heritage, Communities and Environment.
Our schools, hospitals, buses, trains are all full-up!
TOURISM is a boon to the economy but the sell-off of our Real Estate means Our Biggest Export has become Our Title Deeds! Our Sovereignty … it must stop!
HOW would the Chinese feel if we were able to reciprocate? If we were able to fly in and buy up their real estate, farms, mines, ports, IT and Business Parks, commercial buildings?
WHY CHINA’S RICHEST FLOCK TO AUSTRALIA – EVEN IF THEY’RE NOT ALWAYS WELCOME
Ultra-wealthy Chinese are leaving a trail of dollars across Australia, boosting sectors from property and education to luxury goods – but not everyone is happy about it
“It all depends on government policy,” he said. “I mean, if we go back to the policy in the 1970s – let’s not welcome any Chinese in Australia – then you’ll stop them, but I don’t think that’s going to happen. If you open the door, then of course you’ll get people coming in from all directions.”■