Chinese buyers are enthusiastic about Australian real estate: stability, education and quality of life are key attractions

Australia becomes one of the top destinations for Chinese high-end buyers

According to data from Juwai IQI, a real estate platform, Australia has jumped to the second most popular destination for wealthy Chinese buyers to inquire about high-end properties in 2024, second only to Thailand, up from fourth place in 2023. This change reflects Chinese buyers' preference for Australia's stable political environment, high-quality education resources and favorable currency exchange rate.

Education and quality of life attract demand for owner-occupiers

Kashif Ansari, co-founder and group CEO of Juwai IQI, noted that 94% of Chinese buyers are looking for properties for their own residence, while only 6.5% say they are buying purely for investment. This shows that they are more concerned with living quality and their children's education rather than short-term investment returns. Australia's international schools and multicultural environment make cities like Sydney and Melbourne their top choices.

Impact of policy changes on foreign buyers

However, the Australian government has implemented a two-year ban on foreigners purchasing existing homes from April 1, 2025, in an effort to ease housing supply pressures. This policy limits the ability of non-permanent residents to purchase existing properties, but still allows them to purchase new homes or engage in development projects that help increase housing supply. In addition, foreign buyers are required to pay additional stamp duty surcharges, such as 9% in New South Wales and 8% in Victoria.

A weaker Australian dollar offers a buying opportunity

In the first half of 2024, the Australian dollar fell by more than 5% against the RMB, making Australian property more cost-effective for Chinese buyers. This currency trend, coupled with the stability of the Australian real estate market, has further attracted the attention of wealthy Chinese buyers.

Despite facing policy restrictions and additional taxes, wealthy Chinese buyers remain interested in Australian real estate. They value not only the return on investment, but also the quality of life, educational resources and social stability that Australia offers. For buyers seeking long-term residence and asset preservation, Australia remains an attractive option.