Six thousand new homes on Vic defence land

Thousands of new homes will be built on former defence land in Melbourne that the federal government has released for general sale. The federal government predicts 6000 homes can be built on 128 hectares of former defence land where the old Maribyrnong munitions factory operated during World War I. ‘It’s a very prominent site in…

Foreign investment jumps 29 per cent to $248 billion last year

Victoria has emerged as the focus for overseas buyers of Australian homes, attracting 44 per cent of residential purchases by foreign investors last financial year. NSW, with 32 per cent of residential home purchases, was the second most popular state for an inflow of foreign property investment, according to the Foreign Investment Review Board’s 2015-16…

Chinese buying big in Australian agribusiness

CHINA’S investment in Australian agribusiness has tripled in just one year as China strives to meet rising demand for high-quality food among its growing middle class. In 2016, Chinese companies invested $1.2 billion in Australian agribusiness, three times the investment of $375 million in 2015, shows a report form financial services provider KPMG and the…

What Chinese are buying in Australia

THE Chinese continue to pour money into Australian businesses, infrastructure, resources and real estate to the tune of $15.36 billion in 2016. The figure is the highest it’s been since 2008 when Chinese direct investment reached its peak of $21.6 billion, according to a report from KPMG and the University of Sydney. Commercial real estate…

Chinese investment is at the highest levels since the GFC.

Chinese investment in Australia has reached the highest level since the global financial crisis (GFC), up 12 per cent from 2015 to $15.4 billion last year. A new report from Sydney University and accounting firm KPMG found a record 103 deals were signed between Chinese and Australian companies in 2016. But the annual report, Demystifying…

Proposed Phillip Island cancer facility to target Chinese visitors

Phillip Island could become a destination for Asian tourists jetting in to seek cancer treatment. A major proposal is afoot to build an international radiation, oncology and chemotherapy treatment centre, complete with 72-bed luxury accommodation and possible golf course. More than a million visitors flock to Phillip Island each year, with the penguin parade a…

Chinese to build new $1bn City between Brisbane and the Gold Coast

Chinese hands have snatched up sprawling sugar cane fields on the northern tip of Queensland’s Gold Coast with the intentions of turning the rural landscape into a new city.Songcheng Performance Development, owned by a Chinese theme park entrepreneur, is the company striking a deal to develop the Norwell Valley, which is located smack bang between…

Property sector recruits Chinese real estate agents on 457 visas

More than one Chinese real estate agent was brought to Australia on a 457 visa every week during 2016 to allow businesses to take advantage of the offshore investment boom. The 2016 figures for the 457 program released this week show there were slightly fewer workers in Australia on the controversial temporary visa at the…

Property sector recruits Chinese real estate agents on 457 visas

More than one Chinese real estate agent was brought to Australia on a 457 visa every week during 2016 to allow businesses to take advantage of the offshore investment boom. The 2016 figures for the 457 program released this week show there were slightly fewer workers in Australia on the controversial temporary visa at the…

Corrupt foreigners buy Australian property

Anti-corruption group Transparency International has named Australia as one of the main countries in which corrupt government officials from overseas can buy real estate by exploiting legal loopholes. The group identified “severe deficiencies” in local rules designed to stop illicit funds flowing into property that put Australia in breach of its commitments to tackle corruption…