China buyers double Aussie property investments again

Sydney

CHINESE appetite for property in Australia shows no sign of waning after buyers doubled investment in the nation's homes and offices for a second straight year.

Spending on Australian residential and commercial property rose to A$24.3 billion (S$24.8 billion) in the 12 months through June 2015, up from A$12.4 billion a year earlier and A$5.9 billion in 2013, according to the Foreign Investment Review Board's (FIRB) annual report. All Chinese investors in a survey conducted by KPMG and the University of Sydney want to allocate more money to Australia, a separate report showed on Monday.