Source: Domain —
Now China has finally flung open its doors again, Australia can expect a major influx of cash into its housing market.
A new report into overseas residential real estate spending intentions has found that around $4.8 billion of funds is likely to be advanced over the 2023 financial year by investors from mainland China and Hong Kong.
And that flood is due to start anytime now, with the Chinese Lunar New Year holiday this week marking the resumption of travel as visas start being re-issued, new passports supplied and extra flights to Australia launched.
“China is going from virtually sealed off to nearly wide open in just a couple of weeks,” said Kashif Ansari, chief executive of Asian real estate technology group Juwai IQI. “This will be the first opportunity for most Chinese to visit overseas real estate markets in three years.
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