According to new data from the Federal Treasury, overseas investors have spent $5.3 billion on Australian property in under a year. The data reveals that international buyers made 4,700 residential purchases in the first three financial quarters of 2023. Among these, China-based investors acquired 1,955 homes, Hong Kong-based investors bought 400, and Vietnam-based investors purchased 259.
Cameron Kusher, PropTrack’s Director of Economic Research, explains that while the total value may seem substantial, foreign investment constitutes only a minor fraction of Australia’s property market. He notes that these investors typically target higher-end properties, which are often beyond the reach of first homebuyers. “International investors are not impacting the lower end of the market,” Kusher states. “Australia remains a popular destination for overseas investors, but their activities are not affecting the broader market.”
At Luminur Projects, we recognize the significance of international investment in the Australian property market. Our expertise in property development project marketing allows us to effectively attract and engage overseas buyers, ensuring that high-end properties receive the attention they deserve. Additionally, we assist buyers in navigating the market, providing them with the information and support needed to make informed purchasing decisions. By leveraging our extensive network and market knowledge, we help developers tap into this valuable segment, driving success and growth in a competitive landscape.
