New data shows that around 67% of more than 40,000 residential properties in Australia owned by foreigners have been recorded as being linked to buyers from China. This comes as international investors adjust their strategies to ease the impact of additional government surcharges.
Australia’s Register of Foreign Ownership of Assets, managed by the Australian Taxation Office, tracks homes purchased between 2016 and 2024, most of which are subject to oversight by the Foreign Investment Review Board.
The statistics indicate that 16,929 foreign-owned properties are located in the state of Victoria, representing more than 40% of the total. New South Wales comes second with 8,862 properties, followed by Queensland with 8,129 properties, and South Australia with 2,129 properties.
The data was quietly released late last year, showing that the majority of foreign-owned homes are newly built properties, totaling 23,147 homes, while 8,463 established properties were recorded among jointly owned assets between July 2016 and June 2024.
Currently, the sale of established homes to foreigners is prohibited, except for a limited category of international buyers, while permanent residents and New Zealand citizens are permitted to purchase without additional restrictions.
Nevertheless, statistics from the Australian Taxation Office indicate that mainland Chinese investors make up the largest share of international buyers in Australia, topping a list of 135 countries. They own more than 23,500 properties, a figure that rises to over 27,000 when purchases by Hong Kong residents are included.
According to the Australian Taxation Office’s website, the register does not provide a complete picture of all foreign ownership in Australia, but is limited to properties acquired after July 2016 and some other cases resulting from the matching of property transfer data between states and territories.
In this context, Eleanor Creagh, Chief Economist at PropTrack, said that one of the most influential factors shaping international investment over the coming year will be the policies adopted by the Chinese government to curb capital outflows.
She also noted that China’s strong concentration in this area reflects the close relationship between the Australian market and the education sector and local businesses.
