The Chinese spent $ 24 billion on Australian real estate last year, three quarters of all foreign buyers.

Chinese buyers spent $ 24 billion on Australian real estate over the past year, making them the largest group of foreign buyers (pictured, a Sydney ad targeting Chinese buyers).

Chinese buyers spent $ 24 billion on Australian real estate over the past year, making them the largest group of foreign buyers.

According to a new report from the Juwai real estate website on Chinese global property investment, three-quarters of buyers of foreign homes in 2017 came from China.

Despite the higher tariffs, Australia remains an attractive foreign buyer due to the country's stability, security and quality of life.

Chinese buyers spent $ 24 billion on Australian real estate over the past year, making them the largest group of foreign buyers (pictured, a Sydney ad targeting Chinese buyers).

Chinese buyers spent $ 24 billion on Australian real estate over the past year, making them the largest group of foreign buyers (pictured, a Sydney ad targeting Chinese buyers).

According to a new report from the Juwai real estate website on Chinese global property investment, three-quarters of buyers of foreign homes in 2017 came from China (in the image there is an auction in Sydney)

According to a new report from the Juwai real estate website on Chinese global property investment, three-quarters of buyers of foreign homes in 2017 came from China (in the image there is an auction in Sydney)

According to a new report from the Juwai real estate website on Chinese global property investment, three-quarters of buyers of foreign homes in 2017 came from China (in the image there is an auction in Sydney)

The executive director and director of Juwai, Carrie Law (pictured), said that Chinese buyers still see Australia as a good long-term value.

The executive director and director of Juwai, Carrie Law (pictured), said that Chinese buyers still see Australia as a good long-term value.

The executive director and director of Juwai, Carrie Law (pictured), said that Chinese buyers still see Australia as a good long-term value.

The executive director and director of Juwai, Carrie Law, said that Chinese buyers still see Australia as a good long-term value.

"Most of our residential buyers buy for their own use, because they have children studying or working here, or because they plan to visit regularly or retire here," he said.

"Australia offers an environment of tables, security, quality educational institutions and a high quality of life, both Sydney and Melbourne are among the five most livable cities in the world."

CHINESE PURCHASES OF PROPERTY IN 2017

– The Chinese bought $ 23.9 billion of Australian real estate in 2017

– That consists of $ 19.4 billion in residential acquisitions and $ 4.5 billion in commercial purchases

– That dropped $ 8.8 billion or 26.8 percent from the total estimate of $ 33 billion in 2016

– New Zealand received $ 1.4 billion in investment

– The total investment of Australia and New Zealand fell by 23.2 percent compared to 2016

Source: Juwai

Ms. Law mentioned Melbourne, Sydney, Brisbane, Adelaide, Gold Coast, Canberra and Perth as the most popular cities.

But political tensions could affect commercial real estate investment, which accounts for a third of all Chinese corporate direct investment in Australia, said Ms. Law.

According to Juwai estimates, about $ 100 billion in new home sales were spent in 2017, and about $ 25 billion was spent by foreign buyers.

Chinese buyers in turn accounted for about 75 percent of foreign buyers' spending: an investment of almost $ 20 billion.

The massive spending came despite capital controls, financing restrictions and new taxes and restrictions on foreign buyers that combine to reduce Chinese investment by $ 8.8 billion as of 2016.

Chinese buyers spent another 4.5 billion dollars in commercial acquisitions in Australia and bought another 1.4 billion dollars in properties in New Zealand.

Despite the high stamp duties, Australia remains an attractive foreign buyer due to the stability, security and quality of life of the country (in the photo, a Sydney ad aimed at Chinese buyers).

Despite the high stamp duties, Australia remains an attractive foreign buyer due to the stability, security and quality of life of the country (in the photo, a Sydney ad aimed at Chinese buyers).

Despite the high stamp duties, Australia remains an attractive foreign buyer due to the stability, security and quality of life of the country (in the photo, a Sydney ad aimed at Chinese buyers).

.