Singapore has bought almost $20 billion worth of Australian real estate in the last two years, eclipsing China

Source: Business Insider — 

Known colloquially as the Little Red Dot, Singapore is well and truly punching above its weight when it comes to Australian real estate.

In the two years to July 2020, Singaporean investors bought up $19.3 billion worth of Australian property, according to the latest Foreign Investment Review Board (FIRB) data.

To put that in perspective, Singaporeans spent $6.1 billion more over that period than China, despite its economy being around 44 times smaller.

It comes as Chinese investment actually declines, according to Georg Chmiel, co-founder and chair of Asian real estate platform Juwai IQI.