Asian capital is impacting our property markets

A much debated subject over the past year, there is now compelling evidence that Asian capital is impacting our property markets in a number of different ways. The value of FIRB approved foreign purchases looks set to have increased dramatically over the past financial year, which has helped to fuel record building approvals and dwelling commencements. The increased supply is welcome and is set to put downward pressure on unit rents, but foreign developers have also paid high prices for prime development sites which is putting intense pressure on land values in Sydney and Melbourne. More here: (VIEW LINK)