Salient to Investors: Chinese millionaires who invest at least $4.7 million and qualify for Australian residency can get around China’s restrictions on converting currency and sending it abroad. China caps the amount of yuan that individuals can convert into other currencies every year at the equivalent of $50,000 and bars transferring currency
READ MORE... →Salient to Investors: Credit Suisse said: Chinese buyers are pouring into the Australian residential market every year, pricing out a generation of Australians from the housing market, with many facing a lifetime of renting. Over the past 5 years, Sydney prices have risen by 45% and Melbourne by more
READ MORE... →Salient to Investors: Housing in Australia accounts for 60 percent of average household wealth versus a global average of 45 percent. Average household debt has been near 150 percent of annual income since 2006 versus 135 percent in the US. House prices have not fallen more than 10 percent in
READ MORE... →Salient to Investors: John McGrath at McGrath Estate Agents said: Home prices in Sydney could rise 5% to 10% by as much as 10 percent over the next 12 months, because as much as 80 percent of homes in parts of Sydney are being sold to Chinese buyers, driven by
READ MORE... →Salient to Investors: Jeremy Grantham’s GMO claims that of the 36 major bubbles it says it tracks, 33 have completely popped, or returned to their prior trends. GMO’s more recent predictions, the Australian and UK housing market bubbles, have yet to pop. James Montier at GMO says investors are being
READ MORE... →Salient to Investors: Sydney is the most unaffordable housing market in the English-speaking world. Demographia report Australian homes cost 6.7 times the gross annual median household income in Q3 2011 versus 3.1 times in the US and 5 times in the UK. Apartment ownership is rising as more are being buyers priced out of the
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