{"id":69463,"date":"2024-06-20T17:19:02","date_gmt":"2024-06-20T07:19:02","guid":{"rendered":"https:\/\/www.vibewire.com.au\/?p=69463"},"modified":"2024-06-20T17:19:16","modified_gmt":"2024-06-20T07:19:16","slug":"australians-overwhelmingly-support-crackdown-on-chinese-property-investors","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=69463","title":{"rendered":"Australians overwhelmingly support crackdown on Chinese property investors"},"content":{"rendered":"\n

Australians overwhelmingly support a crackdown on Chinese investors buying real estate amid growing concerns over housing affordability, a new survey has found.<\/p>\n\n\n\n

Eighty-three per cent of Australians believe the government \u201cshould restrict the amount of investment in residential real estate that is permitted from Chinese investors\u201d, according to the poll published last week<\/a> by the University of Technology Sydney\u2019s Australia-China Relations Institute.<\/p>\n\n\n\n

That was the highest number in the four years<\/a> the UTS:ACRI survey has been running.<\/p>\n\n\n\n

\u201cChinese investment in Australian residential real estate continues to generate concern,\u201d the authors wrote in the report, The Australia-China relationship: What do Australians think?<\/em>.<\/em><\/p>\n\n\n\n

The poll asked a representative sample of 2015 Australian adults a range of questions on issues ranging from national security \u2014 including foreign interference and the conflict over Taiwan \u2014 to tourism, trade and investment.<\/p>\n\n\n\n

Only 28 per cent of respondents agreed that \u201cChinese investment in Australian residential real estate brings a lot of benefits for Australians\u201d such as housing construction, new dwellings and jobs.<\/p>\n\n\n\n

\u201cAgreement with this statement has incrementally decreased over the last four years,\u201d the report said.<\/p>\n\n\n\n

A \u201cclear majority\u201d of 80 per cent of Australians agreed with the statement that \u201cforeign buyers from China drive up Australian housing prices\u201d, a seven-point increase from 73 per cent in 2023, and almost back to the 82 per cent high recorded in 2021.<\/p>\n\n\n\n

Just under three quarters, or 74 per cent, said Chinese investors \u201chave negatively affected the rental market for residential real estate in Australia\u201d, also a four-year high and a six-point increase from 68 per cent in 2023.<\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

The housing crisis shows no signs of easing. Picture: David Swift\/NCA NewsWire<\/p>\n\n\n\n

More broadly, just under three quarters of respondents said Australia was \u201ctoo economically reliant on China\u201d, while just over half said foreign investment from China was \u201cmore detrimental than beneficial\u201d.<\/p>\n\n\n\n

David Ho, co-founder and group managing director of Asian property portal Juwai IQI, said the findings showed Australians were \u201cstressed by the tight property market and believe foreign buyers are part of the problem\u201d.<\/p>\n\n\n\n

\u201cThey want foreign buyers to be restricted, regulated, and taxed, and that\u2019s fine \u2014 because foreign buyers already in fact are heavily taxed, regulated, and restricted,\u201d he said.<\/p>\n\n\n\n

(news.com.au)<\/p>\n","protected":false},"excerpt":{"rendered":"

Australians have overwhelmingly backed calls for a crackdown on Chinese investors buying real estate.<\/p>\n","protected":false},"author":22,"featured_media":69464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[273,999,118],"tags":[10480,10714,10715],"class_list":["post-69463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australia","category-australia-politics","category-china","tag-australian-economy","tag-australian-property","tag-chinese-investment"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t