Chinese are top property buyers in Australia

[SYDNEY] Chinese buyers have overtaken Americans to become the biggest investors in Australian property, drawn by the nation's strengthening housing market, as their government tightens rules on buying at home.

Chinese investment in Australian residential and commercial real estate surged 42 per cent to A$5.9 billion (S$6.7 billion), compared with an 85 per cent slump to A$4.4 billion in purchases by US buyers, accordi…