Increased investment in rural property Australia
The launched of the recent review by the Real Estate Institute of Australia concerning the sales and purchase of homes for sale and Australian farms has recently showed to the public. With some of the real estate agents suggest there’s been a set of rise up in terms of the real estate investment, for the most part from Chinese buyers in the past six months.
According to the Institute president David Airey said that he don’t want to predict anything when it comes to their investment on properties, but he stated that most of the investors and home owners are Asians who invest a lot of real estate property that made them popular in the real estate market. However he added that it might be creating some distress among Australian agriculture as it might suffer if the investors who bought the land decide to leave the property without any development made.
“We don’t have any anecdotal evidence on that, but that’s something we’ll be surveying. In fact, yesterday, the Institute in Canberra launched a survey amongst all our members, so we can try and provide the government and the Reserve Bank with some evidence on these issues.” He added.
Nonetheless from the statement of Professor Zhangyue Zhou from James Cook University, who said that he doesn’t think that most of the Chinese investors are interested on buying big real estate properties as they are only involved most in small Australian land because of the large amount of money involved.
