Chinese investors are pouring millions into Australia's real estate market including agriculture lands. According to a study, Sydney and Melbourne are the top spots attracting Chinese investments. The investments are likely to continue over the next three years.

The Hurun Report, the Shanghai-based rich list compiler, deduced that a large number of Chinese people plan to move to Australia. Rupert Hoogewerf, the chairman and chief researcher of the Hurun Report, told The Australian, "It's mainly because you have got the depreciation of the renminbi at the moment." Apart from this, the quality of life is another factor for Chinese real estate investors.

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However, Chinese investment is also highly prominent in farmland real estate. According to data released by the Australian Taxation Office in June, Chinese real estate investors owned more than three million hectares of agricultural land in Australia.

Chinese investors own major agricultural properties including 705,000-hectare Wollogorang and Wentworth station on the border of Queensland and the Northern Territory (NT). Similarly, 639,500-hectare Balfour Downs and Wandanya station in WA is also owned by Chinese investors. Both properties are owned by Chinese billionaire Xingfa Ma.

Another important foray made by Chinese real estate investors is the purchase of 200,000-hectare Mount Elizabeth cattle station by Shanghai Zenith. It also purchased the 189,000-hectare Yakka Munga station. Shanghai Zenith is the Australian unit of real estate developer Shanghai CRED.

The survey conducted by the Hurun Report showed that 60 percent of the Chinese elite plan to invest in overseas properties. Melbourne was picked as the preferred destination by 3.9 percent of Chinese real estate investors.

TagsAustralia, Shanghai CRED, Xingfa Ma