There’s a lot of talk in the property market at the moment about foreign buyers. But what are they really looking for in Australian property and where are they buying?
Based on research and statistics from the Foreign Investment Review Board (FIRB) the top 11 overseas investor markets in dollar terms, according to the latest FIRB report, looks like this:
In 2013-2014 approved foreign investment in Aussie real estate was worth $74.6 billion, up from $51.9 billion in 2012-2013.
This included 23,054 proposals worth $34.72 billion in residential real estate – up by more than 100% from $17.16 billion and 11,668 proposals in 2012-2013 – and $39.88 billion worth of commercial real estate investment based on 374 proposals.
Commercial real estate’s value and number of proposed investments didn’t grow quite as vigorously year-on-year; in 2012-2013 there were 357 proposals worth $34.75 billion, according to the FIRB report.
The residential real estate figures included proposals to buy:
Commercial real estate figures included proposals to buy:
The biggest sub-sectors of real estate investment in 2013-2014 were: