Australian property demand from Chinese buyers is undergoing a sharp rebound, according to real estate firm Juwai IQI, with a continued positive outlook for the rest of 2023.
In the first three months of 2023, Chinese buyer inquiries for Australian properties spiked 127 percent quarter-on-quarter, according to data from real estate firm Juwai IQI.
«We expect Chinese investment in Australian real estate to climb at least 30 per cent in 2023 from 2022,» said Juwai IQI co-founder Daniel Ho in a «Bloomberg» report. «Chinese buyers are back and more will come in the second half of the year than in the first.»
According to data from Australia’s Foreign Investment Review Board, China was the largest source of offshore investment in residential real estate in the fourth quarter of 2022 at A$600 million ($398 million).
