Chinese investment in Australian housing: push and pull factors and implications for understanding international housing demand

The increasing integration of the globalised financial market and real estate has resulted in growing levels of international investment in property markets. Yet research on the factors driving international housing demand remains limited. This paper examines the underlying drivers encouraging the involvement of Chinese developers and individuals in the global property market, focusing on the interface between both ‘push’ factors and ‘pull’ factors driving them ‘overseas’. Ostensibly, domestic policy settings, such as China's anti-speculation measures (introduced between 2004 and 2014) might be expected to displace housing investment to other markets. This paper examines the relative influence of such measures along with other domestic ‘push’ and international ‘pull’ factors through in-depth interviews with real estate agents, developers, and a Chinese local government official. In exploring the intersection between ‘push’ and ‘pull’ factors, the focus is specifically on international investment in Sydney, Australia.