Foreign hunger for Australian property shows no signs of abating, with overseas investors spending a whopping $41.5bn on Australian real estate last financial year.
Which countries’ residents are raiding the Australian market? Read on for the surprising results.
According to the latest figures from the Foreign Investment Review Board (FIRB), released in its Annual Report 2010-11, the British love affair with all things Australian certainly seems to extend to property, with FIRB approvals for investments in real estate by UK residents topping the scales at $4,610m.
China’s inroads into the Australian property market saw it take the second spot ($4,093m), followed by the USA ($3,404m). Malaysia ($1,863m) and the Netherlands ($1,691m) complete the top five. Approvals by country of investor in 2010-11
Source: Your Investment Property Magazine, yourinvestmentpropertymag.com.au