Chinese international property website Juwai.com named the CBD, Point Cook, Doncaster, Southbank and Toorak as our most sought suburbs by Chinese purchasers – our most prolific foreign buyers. Chief Executive Carrie Law said banks curbing lending to foreigners, Australian states' new stamp duties and Chinese capital controls were having substantially more impact on offshore buying down under than the beefed up FIRB regulations introduced a few years ago. "Chinese buying in Australia actually hit a new record after the stronger enforcement measures were put in place," she said. She added purchasers from China had sunk about $9.8 billion into the state's residential and commercial property markets last year. This made up 41 per cent of their total spending in Australia, but the figure had fallen from 2016, reports News.com.au (10 December 2018).
