Chinese buyers don't want your house, they want the land

Overseas Chinese investors are bidding high to secure the right property in suburban Australia – even if it means knocking down the house.

Forget about off-the-plan apartments. What cashed-up overseas Chinese buyers really want is a house in Australia, and more precisely, the land on which the house sits.

For the right house in the right suburb, they are outbidding Australian buyers by $100,000 to $200,000 – and sometimes more – to secure the property. They are importing inflation to their country of choice.

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