Chinese Buying Spree in Australia falls to $2.5 Billion …
Plummeting 47% between 2018 and 2019
In 2016 Chinese spent $15.8Bn in Australia
Prof. Peter Drysdale who heads up a Chinese investment database at the ANU has found that the Chinese have spent 47% less in Australia; the bulk of their $50 Bn investment was before 2017
From 2012 to 2013 inclusive the Chinese buying spree grew by almost 60% targeting Sydney and inner-city Melbourne
Chinese buyers and Chinese-backed developers focused on Sydney with more than $600M development sites for 5000 apartments to be marketed in China
With 10 Million Millionaires in China … was this why we have a social and economic imbalance in Australia … prior to the Pandemic?
With precincts 100% owned by Chinese and/or rented by Chinese, built by Chinese developers thus not available to the Australian market …
IT is alleged that Australia needs ‘foreign investment’ despite our Title Deeds becoming perhaps our biggest export! When foreigners buy our property it means less for the Australian HNW and UHNW to invest … less opportunities for our Super Funds … it would seem we have many home grown investors to ensure the Title Deeds remain onshore!
Begs the question how much of Australia does the CCP own?