Chinese investment into Australian real estate has grown by almost 60 per cent in the past two years, with Chinese buyers and developers targeting Sydney and inner-city Melbourne.

The most recent figures available from the Australia Foreign Investment Review Board show Chinese property investment during the 2011-2012 financial year was worth $4.2 billion, with China the biggest foreign investor in the domestic property market, behind the US ($8.16bn) and Singapore ($5.7bn).

Chinese or Chinese-backed developers have turned their focus to Sydney this year, buying more than $600 million worth of development sites, with real estate firm Colliers International noting that nearly 5000 units are planned for the sites.
 

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