Why more wealthy Chinese property buyers are looking to Australia
Deep-pocketed Chinese property buyers are more likely to search for homes in Australia compared to the rest of the world than they were a year ago.
Australia was the second-highest destination for buyer enquiries on the Chinese-language listings website Juwai IQI among homes priced at $US5 million plus ($A7.78 million) in 2024. That's a rise from the fourth highest during 2023.
Over the same period the US fell from the top-ranked destination to the seventh, while Thailand took over the top spot during 2024.
Juwai IQI co-founder and group chief executive Kashif Ansari said Australia had risen in the rankings as wealthy Chinese buyers favoured stability and sought-after schools, as well as advantageous currency movements.
'The move reflects long-term realities like strong schools, political calm, lifestyle appeal, and a soft Australian dollar. The Australian dollar fell more than five per cent against the yuan in the first half of the year, so buyers got more value for their money,' he said in a statement.
'Chinese buyers want schools, sun, and stability, and the lucky country delivers all three.'
He said that based on a survey of most buyers who make an enquiry on the site, 94 per cent were looking for homes they or their family would use, but only 6.5 per cent said they were buying strictly for investment.
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