China has now become the biggest source of approved foreign investment in Australia for the first time, according to the Foreign Investment Review Board.
The country overtook the US (approved to spend $17.5 billion) with $27.7 billion of approved spending. $12.4m of that was approved to spend on real estate, double the amount spent by the Americans.
Great Britain remains a big force in Australias property market: together, the UK and Japan have larger total investment volumes Down Under than China, according to the FIRB.
Share
