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Singapore is now Australia’s biggest foreign investor
31 Aug

According to an Australian news outlet, the small city-state of Singapore has now overtaken China as the biggest foreign investor in Australian property.

The rise in investment from Singapore has helped to offset a noticeable decline in Chinese investment to Australia.

The decline in Chinese investment coincides with China’s new policy as it reins in on Chinese companies pouring big money into overseas property development. In fact, Chinese investment in Australian real estate has already dropped by 69% when compared to the same period last year.

However, James Quigley, head of capital Markets, Australia and New Zealand for Cushman & Wakefield, spoke about how a decline in capital from mainland China this has allowed investors from other Asian countries to capitalise.In fact, Australia commercial real estate remains on track for yet another strong year, with an estimated total investment of around $30bn for the year.

"These included 20 Bond Street in Sydney and the record £1.15 billion purchase of London's Leadenhall Building, known as the 'Cheesegrater'", Quigley said

He added: "Despite the decline in investment from mainland Chinese, Australian property investment volumes are on track for another robust year supported by investors from Singapore, Hong Kong, the US and Germany as well as local institutions such as Dexus and Charter Hall".

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