Vietnamese billionaires invest in real estate in Australia
In recent years, buying houses abroad has become a new trend because every year Vietnamese investors spend billions of dollars on Australian real estate.
The trend of pouring money abroad has increased over the years thanks to the abundant cash, as well as the opportunity seen from overseas trips. In 2017, the total amount of money that Vietnamese businesses registered to invest abroad is 360 million. Of which, real estate accounted for the largest share with 19.4%. According to recent statistics, Australia is a popular destination for many Vietnamese, followed by Singapore, Germany and the United Kingdom.
According to statistics from the National Association of Realtors (NAR) in March last year, Vietnamese spent $ 500 million on real estate purchases in Australia from April 2016 to March 2017 with many The purpose is to settle, study or invest.
Statistics show that the purchase of housing in Australia is increasingly interested in many people in Vietnam. In major Australian cities, nearly 40% of the population is immigrant. In Melbourne, Perth and Sydney, migrants make up 36-39% of the population, some of them from Vietnam. Therefore, high-rise apartment projects, newly built houses and villas in big cities are selected by the majority of Vietnamese people.
The demand for Australian homeownership is relatively high due to high security, clear planning and legal disclosures, and real estate market forecasts for the coming decade. Many families with children studying in Australia want to stay home and settle. Others buy for investment, someone buys a second house in parallel with home in Vietnam …
In particular, a domestic investor spent $ 14 million in an auction to buy a commercial center on the outskirts of Marrickville. Shortly before, another business spends more than $ 6 million to acquire a two-facade apartment project on Racecourse Road, Kensington, Melbourne.
Besides Australia, Vietnamese investors are also particularly interested in European countries, looking for opportunities to own long-term residence cards, as well as facilitate their access to university colleges. prices in the European Union, especially in France and Germany.
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