How more than A THIRD of the most expensive homes in Australia are bought by super rich Chinese entrepreneurs

In 2019 China had over 300 billionaires which put the country second in the world, after the United States

https://en.wikipedia.org/wiki/List_of_Chinese_by_net_worth

In China, there are 4.4 million millionaires, an increase of 158,000 on 2018, according to the report, and 10% of the global total. There are an estimated 1.1 billion adults in China.Oct 21, 2019

https://www.theguardian.com/business/2019/oct/21/china-overtakes-us-in-rankings-of-worlds-richest-people

AND China has a burgeoning Middle Class too! The lure of buying Australian Real Estate is about gaining a ‘Permanent Residency’ Visa which is thrown in for buying Australian property …

‘THE SILENT INVASION’ promoted … expedited by the policies of the Morrison Government …

THIS, it would seem, explains why the Australian Constituency has been sidelined by the Morrison Government/Property Council of Australia

  • IMPORTANT! RELATED ARTICLE!! On what Australians can do about this!

https://caanhousinginequalitywithaussieslockedout.com/2019/11/15/china-overtakes-us-in-rankings-of-worlds-richest-people/

How more than A THIRD of the most expensive homes in Australia are bought by super rich Chinese entrepreneurs

  • Australia’s most expensive property was sold to a Chinese investor for $140m
  • Other apartments in the building also sold for about $40m to foreign buyers
  • One quarter of Chinese tourists visiting Australia are looking to buy property

By CHARLOTTE KARP FOR DAILY MAIL AUSTRALIA

14 November 2019

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One third of the most expensive homes in Australia have been scooped up by wealthy Chinese investors.

Thirty per cent of multi-million dollar mansions and penthouses around the country are owned by buyers from mainland China and Hong Kong, including coveted areas in Sydney and Melbourne, reported The Australian.

One luxury home in Sydney Harbour’s Fairwater estate went to a foreign investor for $100m and a mansion in Melbourne’s ritzy Toorak was snapped up for $26.25m.

But the nation’s most expensive home eclipsed previous figures after a mystery Chinese-born entrepreneur paid $140m last month for a Barangaroo South penthouse that hasn’t been built yet.

An artists's impression of Barangaroo South property that hasn't been built yet

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An artists’s impression of Barangaroo South property that hasn’t been built yet

An artist's impression of one of the many rooms in a Barangaroo South property that was sold for $140m

An artist’s impression of one of the many rooms in a Barangaroo South property that was sold for $140m

Once completed in 2023, the buyer will use the top two-storey penthouse as their home and the sub-penthouse as a separate living quarter.

Spanning 1,600 square metres, nine-bedroom home features a master bedroom that is the same size as a small city apartment.

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The tower’s agents said many of the apartments have sold for around $40m to Chinese-born nationals.

The sale comes after billionaire developer Phillip Dong Fang Lee bought a Point Piper mansion for $39.9 in Sydney’s affluent eastern suburbs.

China shows off their strength during 70-year parad

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Sydney Harbour's Fairwater estate went to a foreign investor for $100m

Sydney Harbour’s Fairwater estate went to a foreign investor for $100m

The home at 40 Wentworth Road, Vaucluse sold for about $70 million. Photo: Supplied

The home at 40 Wentworth Road, Vaucluse sold for about $70 million. Photo: Supplied

James and Erica Packer have sold their Vaucluse mansion for a new Australian house price record.

Photo: Domain: 2015

James Packer’s former Vaucluse abode sold in 2015 to Chinese-born Chau Chak Wing for $70m.

While the federal government placed new taxes on foreign investors, migration agent John Hu said Hong Kong nationals have expressed 50 per cent more interest in Australian properties since civil unrest began in June.

‘For enquiries, we are reaching about 1,000 a month and they are asking for different countries and of course Australia is on the top of the list.’ 

About 1.2 million Chinese tourists visit Australia every year.

SOURCE: https://www.dailymail.co.uk/news/article-7683201/How-expensive-homes-Australia-bought-Chinese-entrepreneurs.html

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