A new survey from leading British research firm YouGov has confirmed the fears of many Australians that wealthy Chinese investors are seeking to buy up swathes of prime Australian property.
Responding to the survey, 21 per cent of Chinese participants have named Australia as the number one country they would buy property in – beating countries like America, Japan and the UK to the top spot.
Of the total Chinese population, four per cent, or around 55 million, are actively looking to invest in property overseas, according to IP Global director Jonathan Gordon.
But given the enormous number of people living in mainland China, this means that there are currently over TWO MILLION Chinese investors that have their sights trained on the Australian property market.
This news follows the worrying reports from AUSTRAC that 70 per cent of all Chinese property buyers pay in cash and that they had tracked over $3 BILLION in suspicious Chinese purchases in 2016 alone.
As we alerted our supporters to, the federal government is planning on expanding the laws that seek to prevent money laundering through dodgy Chinese foreign investment in property.
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