Chinese Buyers Return to Resurgent Australian Property Market

00:00

00:00/00:00

Listen to this article 1x

Australia is the No.1 destination for Chinese buyers of offshore property — regaining its status as borders reopen and relations between Beijing and Canberra improve. Photo: Bloomberg

(Bloomberg) — Chinese buyers are once again snapping up property in Australia, further fueling resurgent prices in everything from luxury homes to tiny student apartments.

Buyer inquiries from China for Australian properties soared 127% in the first three months of the year from the final quarter of 2022, according to data from real estate firm Juwai IQI. Real estate agents who work with Chinese buyers predict numbers will surge this year.