Approved foreign investment rises to $248bn

By |

Australia continues to be a significant source of foreign investment, with the value of approved investment rising to about $248bn in 2015-2016, according to a newly released report from the Foreign Investment Review Board (FIRB).

The value of approved investment in 2015-2016 saw an increase of over $55bn compared to 2014-2015. This surge was predominantly driven by an increased investment in the real estate sector. “China ($47.3 billion) remains our largest source of approved foreign investment, followed by the United States ($31.0 billion),” the report said.

The FIRB report further noted that foreign investment in real estate continues to be focused on new dwellings, which is in line with Australia’s policy of encouraging residential real estate investment that boosts housing supply. Investments in new homes made up one-third of total foreign investment in the country last year in terms of value.

Charles Pittar, CEO of Juwai.com, a Chinese language international property website, welcomed the report’s findings. “The new report shows that the regime is working. Foreign investment is going right where Australia wants it and is one of the fewbright spots of the economy,” he said.

Pittar also noted the positive impact Chinese investment has had on Australia. “Every Chinese dollar invested landed in the pocket of an Australian somewhere. Chinese investment translates directly into jobs, tax revenue, economic growth and new housing construction. There’s nothing about it that any reasonable person can object to. Frankly, China has been a godsend for Australia these past 10 years.”


Related stories:
How sellers can safeguard themselves when dealing with foreign buyers
Foreign buyers to incur fines for vacant property

 

Can you afford to buy in this suburb? Find out how much you can borrow

Top Suburbs : wallsend , thebarton , melton , eagle vale , alexandria

go back

Get help with your investment property



Do you need help finding the right loan for your investment?


When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here