Chinese buyers account for a whopping 67% of the more than 40,000 Australian residential properties registered as foreign owned, new Australian Taxation Office (ATO) data reveals.
The ATO’s Register of Foreign Ownership of Australian Assets tracks homes bought from 2016 to 2024, mostly under Foreign Investment Review Board (FIRB) supervision, that remain in offshore hands. Mainland Chinese investors are the dominant force among buyers from 135 countries, with 23,550 properties – or more than 27,000 when combined with Hong Kong, The Herald Sun reported.
The data lands amid some of the toughest foreign investment settings in years, with most foreign buyers facing a temporary nationwide ban on purchasing established homes from April 1, 2025 to March 31, 2027 and surcharges commonly adding 7%–9% to non‑resident purchases, leaving many paying 15%–25% more upfront than locals.
Victoria is the leading state for offshore ownership, with 16,929 addresses – more than 40% of the total. NSW follows with 8,862 properties, then Queensland (8,129), and South Australia (2,129).
Most foreign-owned homes are new builds, with 23,147 dwellings on the register, alongside 8,463 established properties bought between July 1, 2016 and June 30, 2024. ATO also notes that offshore buyers have largely targeted lower‑priced properties, with 31,888 purchases under $1 million when bought, compared with 8,289 worth $1 million or more.
PropTrack senior economist Eleanor Creagh (pictured) said Chinese investment reflects deep ties to Australia’s education sector, businesses, and migration programs.
“There’s also skilled migration programs that are probably creating a link between investment and housing demand for the APAC region members,” Creagh said.
Despite tighter rules, she expects demand to persist, supported by more new housing and a weaker Australian dollar.
“And Australia is also viewed as a safe haven, in some respects,” Creagh said. “It’s a country that’s got transparent legal systems, and strong property rights, and has a perception of being far removed from geopolitical adversities.”
Peter Li, general manager of Plus Agency, said the register may undercut public perceptions.
“Most people believe there are more foreign buyers than there actually are,” Li said. “In reality, foreign buyers only make up eight tenths of a per cent of home purchases.”
He said higher holding costs are prompting some to sell, while others are shifting from apartments to house‑and‑land deals to minimise surcharges.
“They only pay FIRB fees and a stamp duty surcharge on the $350k portion… They don’t pay any surcharge on the construction,” Li said.
Juwai IQI founder Daniel Ho said most offshore buyers now want homes they or their children will eventually live in under student or migration visas.
“We expect home prices to continue to climb to 2030 because of the housing shortage,” Ho said. “So, for anyone moving to Australia for the long-term, it makes sense to buy rather than rent.”
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