Chinese and other nations shunning Australian property
Foreign buyers of Australian real estate are conspicuous by their relative absence, with economically challenged Chinese investors leading the downturn.
Higher fees are deterring foreign investors from Australia's residential property market. (Image source: Shutterstock.com)
Foreign investment in Australian property has taken a major downturn, with the value and number of foreign residential real estate transactions taking a big hit in the most recent quarter measured.
The Foreign Investment Review Board (FIRB) on Friday (9 February) released data for the quarter to 30 September 2023 showing that the number of residential real estate investment proposals approved was 1,374 with a total value of $1.5 billion.
China …
