Foreign buyers boom.

Hundreds of new developments have flooded the market and agents still can't keep up with the demand from overseas. But how will this affect local buyers?

Chinese investors are looking beyond Australian residential real estate, and are now increasingly investing in new development projects, reports A Current Affair on Nine Network (6 January 2016). This type of investment is extremely important for Australia’s real estate market, as it allows the construction of more properties. “Each apartment that is purchased off-the-plan by a Chinese investor enables three other apartments to be built – that could add another AU$75 billion to real estate investment in Australia over the medium term,” said Charles Pittar, CEO of Juwai.com.