Australia’s Foreign Investment Review Board has released its annual report on Monday. According to the report, in the 2018 financial year, commercial real estate investment by foreigners decreased to AUD 39.5 billion from AUD 43.7 billion in 2017.
In 2017–18, a total of 10,036 residential real estate applications were approved for proposed investment worth $12.5 billion. This is a 3,162 decline in the number of approvals from 2016–17, and a $17.5 billion decline in the value of approvals.
The United States was the main foreign investment country in Australia for the first time since 2013, the FIRB datas shows.
The United States investment volume increased to AUD 36,5 billion in 2018 from AUD 26,5 billion in 2017.China was the second biggest country with AUD 23.7 billion in 2018 in Australia.
In 2017–18, there was a significant increase in proposed investment approvals in service sectors, particularly in health care and the finance and insurance sector. Overall foreign investment volume declined in 2018 to AUD 163,1 billion from AUD197,7 billion in 2017.