A report released yesterday by Sydney based Credit Suisse analyst Hasan Tevfik predicted massive inward investment into Australian real estate particularly in Melbourne and Sydney.
The report highlighted the proposed new foreign investment rules that could make Australian real estate less attractive for Chinese buyers, but that, "the potential erosion of demand will be marginal".
Tevfik’s report went on to say “Australia is on the doorstep of the greatest wealth creation in three centuries. Despite moderating growth in China, we expect more Chinese wealth to be invested abroad."
"We expect $60 billion of additional Chinese demand for Australian housing over the next six years to 2020. This will be more than double the $28 billion over the past six years, this is positive for the Australian economy, in our view,” the report said.
Asian Wealth Times reported recently on the purchase of a Melbourne penthouse by a China based businessman which broke price records.
