Behind the Chinese luxury property buyer boom

News Snapshot:

Chinese-Australian real estate agent Monika Tu, of Black Diamondz Concierge, launched a property-buying blitzkrieg, with a fleet of cars ferrying potential buyers around the best prospects in Sydney’s Vaucluse and Bellevue Hill. The high-end property boom in Australia is replicated in similar, Chinese-driven property booms in sectors of the market in London, Singapore, and in Vancouver before the Canadian government banned non-resident foreigners from owning homes. Record migration and China’s post-pandemic reopening have sparked a surge of foreign investment in Australian property, and international agents are reporting a more than 400 per cent increase in inquiries. Government approvals are up...