Australia

Chinese buying Australian real estate tops foreign investment, report says

The number of foreigners buying Australian real estate surged by a third.

Source: Chinese buying Australian real estate tops foreign investment, report says

As one astute Redditor points out:

“From the article:

Chinese buyers won approval to make 30,611 real estate purchases last year, totaling $31.9 billion (~77% of them in VIC and NSW).

The ‘crackdown’ on foreign properties last year netted 39 properties (yep, 39 – 0.13% of last year’s total new houses) worth $46.7 million (0.15% of last year’s total invested).

Full retard.”

Couldn’t agree more.

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