INTEREST from Asia’s richest man, Wang Jianlin, is acting like a spotlight on the Gold Coast, drawing the eyes – and investment – of ultra-wealthy investors from China and surrounding nations.
And with Chinese investors and immigrants forecast to spend $60 billion on Australian property in the next six years, such visibility is likely to give the city a lucrative headstart.
“When you’ve got Asia’s wealthiest guy putting a billion dollars into Jewel and starting an airline – because he believes in the destination – then other people will follow,” Gold Coast Tourism chairman Paul Donovan
The latest Credit Suisse analysis shows Chinese nationals purchased $8.7 billion worth of property in 2013-14, up 60 per cent on the previous 12 months and equivalent of 15 per cent of the national housing supply.
More from the original article from the Gold Coast Bulletin HERE.
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