Mainland China, Hong Kong investor interest in Australia at all-time high
- Published:14 Jan 2013
- Author:Property Australia Ezine
- Source:Property Australia Ezine
Since launching its “China Desk” in mid-2012, Savills reports investor enquiry and transaction activity have been at all-time highs.
According to Savills, Chinese investors and those from the wider Asia Pacific, have used the company’s dedicated “China Desk” to enter the Australian commercial and residential investment property market.
“Enquiries to date have range from a smaller residential property development of around A$5 – A$10 million up to office buildings in the region of A$300 million plus,” says NSW head of Savills China Desk, Tony Leong.
Leong says that he doesn’t expect investment flows from Hong Kong and mainland China to slow down.
He adds that a boost in volume could come from the Australian Government’s introduction of the Significant Investment Visa.
According to Savills, in Q3 2012 an off market residential transaction at Hunter’s Hill, Sydney, netted $9 million, the suburb’s biggest sale of 2012, to a mainland Chinese buyer.
“Further price growth is anticipated,” says Leong.