SYDNEY, Feb. 26, 2021 /PRNewswire-PRWeb/ -- Six-fold more mainland Chinese investment flows into Australian residential real estate than into housing in the United States, when adjusted for GDP, according to new research from Juwai IQI.
This startling statistic comes from Juwai IQI's new Q1 2021 residential real estate report, "Asian Investment in Australia." The unprecedented report is sponsored by Kay & Burton, the leader in Melbourne's premium real estate market.
China is not the only major Asian investor in Australia, however. Singapore, Malaysia, and Japan also lead in inbound investment. Thailand and Vietnam are prominent growth countries.
COVID-19 has had a significant negative impact, knocking Chinese real estate buyer enquiries back by some 19.2% in 2020.
Juwai IQI Co-Founder and Group Executive Chairman Georg Chmiel said:
"What you can obtain by reading the 'Asian Investment in Australia' report is a clear overview of one of the world's most significant channels of residential property investment. The report includes data on total investment by source country, investor preferences, the impact of COVID-19 and the post-pandemic outlook."
"Asian Investment in Australia" also includes an exclusive interview with Jamie Mi, Partner & Head of International Division at Kay & Burton, the report's sponsor. Mi explains why she expects inbound investment to rebound from the second half of 2021 and Significant Investor Visas seems to have accelerated.
Kay & Burton's Mi said:
"Thee Asian communities overseas are watching Australia very closely. There are many positive reasons they like Australia, including education, the stable political environment, and how we are handling COVID-19 thus far.
"Next year, there will be plenty of buyers coming in and plenty of offshore wealth invested in Australia. It will be Asian buyers, and also buyers from the U.S. and U.K. and expats."
To read more or download the full report, please click here.
Dave Platter, Juwai IQI, +61432814888, [email protected]
SOURCE Juwai IQI