FOREIGN BUYING_ The foreign investor myth that’s fooled us all

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The foreign investor myth that’s fooled us all

March 16, 20178:56am



AUSTRALIA FOOLED
The gigantic foreign investor myth busted



Foreign buyers are said to be pricing first home buyers out of the market, but are they really to blame? Picture: Steve Helber




VIDEO Why foreign buyers love Sydney


Liz Burke  news.com.au  
@lizeburke

THE Australian property market is a complex beast.

Prospective homeowners are so desperate to get a foothold in the housing game they’re putting off having children as they front up to dozens of open houses and auctions each weekend trying to find their forever homes.

Yet in the very same suburbs, foreign investors — predominantly Chinese buyers — are snapping up properties they’re happy to let languish unoccupied with no intention of ever living in them.

What’s seen as the great Australian dream for one buyer is merely a place to park money for another.

The housing crisis looming over home-owning hopefuls is completely at odds with what’s going on in the cashed up world of Chinese investors. At first glance it seems foreign investors are driving up prices by taking the homes first home buyers believe they deserve, but experts are not convinced the two are so easily linked.



Experts say what first home buyers are after and where foreign buyers invest are very different.Source:News Limited


READ MORE: http://www.news.com.au/finance/real-estate/buying/the-foreign-investor-myth-thats-fooled-us-all/news-story/d5a2a81ce7a38d1fcb8d21cb56b9d437

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AUSTRALIA FOOLED
The gigantic foreign investor myth busted

WE ALL think we know who is to blame for the country’s skyrocketing property prices — foreign investors. But we’ve swallowed a myth.

and

Yet in the very same suburbs, foreign investors — predominantly Chinese buyers — are snapping up properties they’re happy to let languish unoccupied with no intention of ever living in them.

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