The great Australian land grab

Asian developers are paying record prices to snap up land across Australia, and many local property players are being priced out. But don’t think this is only a short-term phenomenon. It’s definitely not.

For Asian developers, Australia has become a proxy for growth to offset a downturn in their home markets -- and they are hugely inflating prices in Australia as they compete for land.

The foreign developers are routinely paying at least 25 per cent more than Australian developers are prepared to pay for sites in sought-after areas across Sydney and Melbourne.

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