Behind the Chinese luxury property buyer boom

Cashed-up purchasers are once again keen on high-end Australian property. But where does the money come from?

Andrew Clark, Bonnie Campbell and Michael Read

Updated Nov 6, 2023 – 11.00am, first published at 5.00am

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A long-time Vaucluse resident recently set out on a Sunday stroll when she was approached by a flustered bus driver conveying a party of wealthy Chinese around Sydney’s dress circle eastern suburbs.

All the passengers had disappeared from the bus, the driver complained, and were checking out properties for sale.

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Andrew ClarkSenior writerAndrew Clark was a senior writer at The Australian Financial Review.

Bonnie CampbellLuxury property reporterBonnie Campbell is the luxury property reporter at The Australian Financial Review

Michael ReadEconomics correspondentMichael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.