Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Foreign Buyers

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The Abbott government gave the details of its crackdown on foreign investor property compliance on Saturday.
It is aimed at those who have illegally bought Australian real estate.
Investors will have until 30 November to come clean and sell their properties or face potential prosecution under the moratorium.
For those who have broken the rules, penalties will be tougher under the crackdown, including possible jail terms.
Under legislation to be introduced this year, penalties will be increased to $127,500 or three years' jail for individuals, and $637,500 for companies.
The government hopes the new Foreign Investment Review Board (FIRB) regime will be in place by 1 December.
Treasurer Joe Hockey announced a moratorium to encourage people who have made unlawful purchases.
"Those foreign investors have until 30 November to come forward and self identify," he said on Saturday. "They will be forced to sell their properties, but they will not be subject to criminal prosecution."
People who don't come forward would face the full force of the law.
The government has only ever found one case of unlawful purchase over the past decade, with the high profile purchase of Villa del Mare in Point Piper by a Chinese billionaire without the required paperwork.
Temporary residents can buy one dwelling to live in, on the condition they sell the property when it is no longer their residence.
Temporary and non-residents can buy an established property for redevelopment, if construction begins within two years with FIRB pemission.
Off the plan purchases are allowed.
As part of the crackdown, the federal government will transfer residential real estate functions to the Australian Taxation Office, which will use its data-matching systems to identify possible breaches.
Third parties – such as lawyers or real estate agents – who knowingly assist a foreign investor to breach the rules will also now be subject to penalties, including fines of $42,500 for individuals and $212,500 for companies.
A comprehensive land register is yet to emerge.
The Prime Minister insisted Australia was still "open for business" despite the crackdown.
"I really want to stress that this is a government which is pro-business and pro-investment," he said. "We are certainly pro-foreign investment, but it does have to be the right foreign investment."
He said he wants a real estate playing field that is "at least level" and if possible "slightly tilted towards the locals".
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jchancellor-FAypfDUnLy

FIRB illegals moratorium until 30 November: Joe Hockey

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Foreigners buying houses in Victoria will be be required to pay new taxes, in an audacious state budget scheme aimed at capitalising on statistics showing foreign demand for new properties in Victoria has leapt from about 5% in 2011 to more than 30% in 2014.
Copying the practice of many Asian countries, foreign nationals will pay a new tax equivalent to 3% of the purchase price of Victorian apartments and houses, estimated to raise $279 million over four years if there isn't a backlash with Asian buyers instead going to other capital cities in other states.
On a CoreLogic RP Data median Melbourne house price of $605,000, foreigners would pay an extra $18,150 in stamp duty and on a $470,000 median Mebourne apartment price $14,100.
An $800,000 apartment will pay an extra $24,000, in addition to about $43,000 in current stamp duty charges. It is not clear if foreign buyers will enjoy current off the plan stamp duty exemptions.
It is proposed foreign housing investors will also pay an extra 0.5% in land tax from 2016 on new and existing properties, raising $53.5 million over four years.
Permanent Australian residents and New Zealand citizens are set to be exempt from the new taxes, and in the case of joint owners, the surcharge will be applied to the foreign owner's share only.
Victorian State Treasurer Tim Pallas said it was unfair that overseas buyers did not contribute their fair share for services and infrastructure.
Treasurer Tim Pallas, who is delivering his first budget on Tuesday, said the surcharges were "modest" and would force foreigners to contribute to services and infrastructure.
"It is inherently unfair on Victorians for foreign purchasers to take the gains of owning property in Victoria - through the services and infrastructure that Victorians pay for over an extended period of time - without contributing their fair share," Pallas told Fairfax Media.
"Amenity in and around Melbourne is important and it is why people are so keen to live here. If you own a property in the area then you should contribute accordingly, and these modest charges go some way to redressing that balance."
The federal government currently solely regulates foreign investment in Australia through the largely ineffective Foreign Investment Review Board (FIRB).
The FIRB revealed this week that the value of foreign investment in new Australian homes tripled last financial year. 
China is the biggest foreign purchaser of Australian real estate, having spent $12.4 billion in 2013-14 - up from $5.9 billion in 2012-13.
Property commentator <a href="https://petewargent.blogspot.com.au/2015/05/whats-really-happening-with-foreign" target="_blank">Pete Wargent blogged </a>that Victoria (41%) and New South Wales (39%) accounted for 80% of foreign residential approvals by dollar value in 2014, with Queensland (11%) and Western Australia (5%) mopping up most of the remainder. South Australia accounted for just 0.4%. 
<img src="https://2.bp.blogspot.com/-Q3WEvkVtocA/VULsSYNiMRI/AAAAAAAAVAY/Fwq5cVfH4UE/s1600/FIRB5.jpg" width="640" height="278">
Source: Pete Wargent.
Most of this investment in residential real estate was approved for new dwellings (11,338 approvals), rather than for existing property (7,915), vacant land (3,150), redevelopment (534) or developer approvals (103).
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Shock new Victorian government taxes proposed for Asian home buyers by Daniel Andrews

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China is the biggest foreign purchaser of Australian real estate, spending $12.4 billion in 2013-14.
In 2012-13 China's investment was just $5.9 billion, a report from the Foreign Investment Review Board Report (FIRB) shows.
For the first time, China is the main source of foreign investment, pushing the United States into second place.
China's total investment last financial year was $27.7 billion, while the US were approved to invest $17.5 billion.
Canada is Australia's third largest foreign investor ($15.4 billion) followed by Malaysia ($7.2 billion).
In 2010 the United Kingdom was the second biggest foreign investor in Australia, but is now ranks 12th.
The foreign appetite for Australian homes has centred on new dwellings, with total spend on off the plan apartments up from $5.73 billion to $16.4 billion.
The foreign spend on existing homes jumped almost $2 billion to $7.17 billion last financial year.
The statistics did not give a breakdown of the residential investments by country.
But the FIRB did reveal the number and value of property transactions almost doubled from 11,668 transaction to 23,054 in 2013-14.
The value of proposed investment in residential real estate increased to $34.7 billion, up from $17.2 billion. 
Investment in newly developed homes was up 200% to $25.8 billion while investments in existing homes – that can only legally be bought by temporary residents in Australia – was up 32% to $7.17 billion, up almost $3 billion. 
Commercial real estate investment also increased from $34.8 billion to $39.9 billion.
Investments in real estate accounted for almost half China's total, with its $12.4 billion approved investment more than twice the amount of the Americans on real estate.
The FIRB figures tally approved investment rather than actual investment. While China has topped the US for annual approvals, the US, Great Britain and Japan still have greater accumulated investment in Australia than China.
The federal government is close to finalising proposed new fees for foreign investors buying Australian property which Treasurer Joe Hockey hopes will  "restore confidence" in the foreign investment system which had not prosecuted anyone for breaching the rules since 2006.
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Chinese now officially the  top FIRB spenders

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National Australia Bank has created a pretty good research document with its quarterly Residential Property Survey. It’s shed light on a number of important things, notably the true position with the level of first home buyer activity in Australia (much higher than the flawed ABS data indicates).
Unfortunately, and here’s this recurring problem that blights real estate analysis in this country, it has allowed economists to get involved in interpreting the data. Unsurprisingly, the outcome is a shemozzle.
NAB senior economist Robert De Iure – who really should stick to what economists do best, which is getting it wrong on the economy and interest rates – apparently thinks that because some foreign investors buy in similar price ranges to local first home buyers, the two groups are competing in the same space.
“The report contradicts the idea that foreign investors and first home buyers shop in different markets,” he says. Actually, it doesn’t – he misunderstands his own report.
His thought process goes like this: because most foreign buyers aren’t paying over $1 million, they are therefore out there competing with first home buyers. He must be spending a lot of time in Sydney.
For the most part, foreign investors are not competing with local first timers, and the NAB survey doesn’t show that they are.
Here’s what it does show: 70% of foreign investors buy property priced above half a million dollars. Instantly, that tells us most foreign buyers are not competing in the same space as first-time buyers.
The NAB survey also shows that foreign investors predominantly buy new homes, such as highrise inner city apartments. Foreign investors account for almost 16% of new dwelling sales in Australia.
Other research shows that, overwhelmingly, Australian first home buyers purchase existing homes.
Again, the two groups are not operating in the same space.
The NAB figures indicate that only 30% of foreign investors are buying houses. Most of them are concentrating on buying apartments and on development sites to build apartments.
So they’re buying predominantly new properties (as they are supposed to be, under the rules) and they are buying mostly apartments. In other words, they’re investing in inner city highrise apartments off the plan – unsurprisingly, given that so many developers are targeting their new highrise projects specifically on Asian investors.
Clearly this is not where the bulk of Australian first home buyers are operating.
That’s what NAB’s own survey shows, but the chattering economists have come up with the kind of kindergarten analysis in which they specialise when it comes to residential real estate.
Stick to your knitting, boys. We’re all desperate to hear your next inaccurate tip about interest rates.
Elsewhere, the NAB Residential Property Index shows a rise in real estate sentiment in the March quarter, with a score of +21 points, up from +12 in the December quarter and well above the long-term average of +14.
It indicates that overall sentiment is strongest in NSW (read Sydney), followed by Victoria and Queensland. It has also improved in South Australia, but remains negative in Western Australia (not surprising, given that the REIWA is working so hard to talk down the Perth market).
Looking ahead over the next one to two years, the greatest optimism is in Queensland and Victoria. Indeed, the report predicts that Brisbane will lead the capital cities on price growth in 2016, with Adelaide number one. Both are tipped to growth 5-6% on average next year, while growth in Sydney and Melbourne is expected to have subsided.
Keep in mind that this is speculation and expectation, not fact, and often the outcome is different. I say this because mainstream media often reports economists’ forecasts as if they’re handed down from on high in tablets of stone.
The latest NAB report also confirms what the previous edition found, that around 25% of residential sales are to first-time buyers, of which 15% of owner-occupiers and 10% are investors. In other words, a significant proportion of first-time buyers are opting to buy an investment property as a first purchase.
And they’re managing to do it unimpeded by competition from foreign investors.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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For the most part, foreign investors are not competing with local first timers: Terry Ryder

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According to Knight Frank Asia Pacific between 2009 and 2014 the total value of Chinese overseas investment skyrocketed from US$600 million to hit an estimated US$15 billion, with the thrust of this investment focused in the gateway cities of Australia, the US and the UK.
Australia witnessed the strongest growth in inbound real estate investment from China in 2014 at more than a 60% increase year on year.
Meanwhile, under the terms of the China-Australia Free Trade Agreement (ChAFTA) the threshold of Foreign Investment Review Board (FIRB) screening for Chinese investors targeting commercial real estate has been lifted from a comparatively trifling $54 million to a massive $1,078 million, in line with existing limits on private business investments.
It is no longer in question of “if” capital inflows from Asia are impacting our property markets, the questions should rather be “how exactly are they doing so?” and “to what extent?”
Here are four trends which became increasingly identifiable through the course of 2014.
1 - Developer capital forcing up city land values 
One outcome of the raising of the FIRB threshold is that Asian investment groups aiming to acquire Australian commercial property can, within reason, target any asset deemed to be attractive.
In the development space there have been several instances of Asian developers paying prices comfortably in excess of what is perceived locally to be “fair market value”, in certain cases 25 to 40% above what domestic developers might previously have been prepared to pay.
Having been swallowed up by China's Dalian Wanda Group for a thumping A$425 million, the tired Gold Fields House office block at Sydney’s 1 Alfred Street (opposite the Cahill Expressway at Circular Quay) will be turned into luxury apartments with stunning views of Sydney Harbour.
The acquisition of a prime site in Erskineville in Sydney's inner west by Hong Kong’s Golden Horse group for A$350 million was another landmark transaction, being the highest price paid to date for such a residential site in Australia.
It is important not to underestimate the potential scale of Chinese investment.  The state-owned Chinese property developer Greenland, constructors of the 600 unit Greenland Centre tower in Sydney's Central Business District, is one such example of a behemoth group, with an annual turnover which comfortably dwarfs that of any Australian company. 
The Greenland group sees “no ceiling” to the volume of funds it is prepared to invest in Australia, immediately declaring after the signing of the ChAFTA that agriculture assets would be targeted.  Moreover, purchasing power has increased as the Australian dollar has depreciated.
<img src="https://2.bp.blogspot.com/-kA8y9pqUea4/VTNSRGA-j3I/AAAAAAAAUrE/nZ3uQJOWZ8Y/s1600/chart7.jpg">
While Chinese developers can and frequently do add to the dwelling stock through residential development, land prices in the inner suburbs of Sydney and Melbourne are undoubtedly being pushed higher by Asian investment - and ultimately higher land values are likely to be built into the cost of the final product for the end user. This dynamic is also resulting in substantial windfall gains for some vendors.
2 - Approved purchases have doubled
The latest data from FIRB suggests that total approvals for foreign investment in residential property approximately doubled from $17 billion to $34 billion in 2013/14.
While the bulk of approvals continue to relate to new property at around 80% of the total (this $27 billion itself being a colossal 170% year-on-year swelling), the concentration of approved investment in Sydney and Melbourne is noteworthy.
Furthermore, the prior year comparative figures disclosed in the notes to the FIRB Annual Report showed that total approved investment in commercial real estate was double that of residential.
The sale of high-rise apartments has been one of Australia’s thriving export industries of the past half decade, with new developments in the three largest capital cities being fluently marketed via slick multilingual brochures and websites.
<img src="https://2.bp.blogspot.com/-iJsjBMCZ8GQ/VTNSBBQNvhI/AAAAAAAAUq8/jAgAJz3mccA/s1600/chart6.jpg">
Increasingly assured of their ability to peddle apartments offshore, developers have proceeded to commence the construction of record volumes of high-rise supply, and pleasingly this trend is helping to add significantly to the aggregate dwelling stock.
My analysis has shown here previously that this will result in an oversupply of high-rise apartments in a number of capital city hubs around Australia, which will drive vacancy rates higher and place an equivalent downward pressure on rents.
Indeed, unit yields across several tracts of Brisbane have already discernably declined over the past 18 months, a trend which has sometimes been masked in the reported macro level capital city figures by the “newness premium” charged on pristine new rentals.
3 - Record Chinese tourism spend
While there is no direct correlation between the impressively <a href="https://petewargent.blogspot.com.au/2015/04/export-values-decline">rebounding tourism sector</a> observed in our <a href="https://petewargent.blogspot.com.au/2015/04/export-values-decline">international trade data</a> and our real estate markets, record Chinese visitor numbers and tourism expenditure is inextricably linked to other longer term demographic trends, including the increasing popularity of Australia as a destination for Chinese capital.
<img src="https://4.bp.blogspot.com/-9OcqB8oSyN0/VTNRpMN-FzI/AAAAAAAAUq0/kyPRF2T780Y/s1600/chart5.jpg">
The economic impacts of tourism are bothersome to identify and isolate, but the best “control” or bellwether capital city property market is that of Hobart, a relatively small city which has played host to record Chinese tourism spend over the past year.
My analysis has shown that while both employment and population growth has remained muted in Tasmania, the depreciation of the Aussie dollar has seen the local economy improve and Hobart has begun to record moderate housing market growth.
4 - Capital flight from China
I've deliberated long and hard on this point before making claims which can't be substantiated or backed up with corroborative evidence. Look, it's happening, and dwelling price movements over this decade to date indicate where, that being our two most populous cities. While the value of approved foreign real estate purchases may appear immaterial in the context of a $5.4 trillion housing market, it would be naïve to think that Asian capital is not having an impact at the margin, particularly in a market where annual housing finance domestically is measured only in billions.
<img src="https://1.bp.blogspot.com/-Bcl5LJ9mYyc/VTNSp76y2kI/AAAAAAAAUrM/wceuzJOTr2k/s1600/chart8.jpg">
In today’s more fluid financial markets motivated Asian capital can find (and is finding) its way to Australia, and in sentiment-driven markets where perception alone can move prices, incontrovertibly this matters.
Picking winners
Observers should not be fooled into think that one high profile FIRB intervention at a Wolsely Road address is representative of a government desire to repel Asian investment in Australia. It's not.
As the mining investment boom unwinds and the Australian economy faces consequential commodity market headwinds, quite the opposite has been true, as evidenced by the detail of the ChAFTA and the promotion of the Business Innovation and Investment Visa (the subclass number  “888” affirmation enough of the program’s intention).
The sale of Australian assets results in windfall gains for some, but distorts the markets adversely for others.  The government wants and needs Asian investment, and that is what it is getting, and there is evidently minimal capacity or desire to get involved in picking winners.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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Asian capital is impacting our property markets (and here's how): Pete Wargent

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Tomorrow will mark the halfway point of the 90 day divestiture order Treasurer Joe Hockey announced to force the sale of the $39 million Point Piper trophy home, Villa del Mare.
Nothing publicly has occurred, so who knows what face saving options are being considered by the billionaire owner Xu Jiayin (許家印 also known as Hui Ka Yan).
He is estimated by Forbes to be worth about $7 billion, so he can afford the best minds to attend to the outcome. 
Nothing further from the Treasurer either on his crusade to make houses more affordable for first home buyers.
The Point Piper gossip suggests neither past selling agents Bill Malouf and Ken Jacobs have taken through any prospects <a href="/news/point-pipers-villa-del-mare-back-for-sale-as-australian-treasurer-thwarts-chinese-billionaire">since the March 3 Federal Treasury order.</a>
The Sydney property agent Monika Tu didn't help when she volunteered she had three buyers only prepared to pay around $35 million for the Point Piper mansion.
She has a nearby trophy home listing that had been priced on the maintenance of the $39 million figure.
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Nothing to show halfway through Villa del Mare, Point Piper's 90 day FIRB divestiture order

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GUEST OBSERVATION
For a long time now Australia has been a <a href="https://www.dpn.com.au/services/property-investment" style="line-height: 1.3em;">hotspot for investing in property</a> with people all over the world vying for a slice of the Australian real estate market. According to the Reserve Bank of Australia (RBA), foreign investment in residential property has grown from $6 billion a year in the 1990s to more than $17 billion in 2012/13. The year after that, the value of foreign approvals for home purchases was more than 12% of total dwelling turnover.
Of course, overseas investment in Australia's real estate industry need not only come from foreign buyers. In Michael Fullilove's World Wide Webs: Diasporas and the International System, he estimated the Australian diaspora at around 1 million people, scattered mainly throughout Europe, North America and South East Asia.
Many of these will be Australians who are living and working overseas temporarily, for lifestyle, career or even tax purposes. But whether these expats are aiming to stay away for good or someday return, they too may want to purchase a piece of investment real estate in Australia.
If you count yourself among either of these <a href="https://www.dpn.com.au/services/international-buyers">groups of international buyers</a>, you'll want to be armed with as much information as you can going into an investment purchase. Consider this a short guide to buying investment property in Australia. 
Why invest in Australia?
There are four core factors that make Australia a great place to invest:
<ul>
<li>23 years of uninterrupted economic growth, including a forecast GDP of 2.8% between 2013 and 2019 by the International Monetary Fund</li>
<li>One of the most skilled, diverse and educated work forces in the world - 40% hold tertiary qualification or an advanced diploma</li>
<li>Proximity to the quickly growing Asia Pacific export markets, coupled with the third most transparent real estate industry in the world</li>
<li>Total projected infrastructure investment of $125 billion between 2013-14 and 2019-20 across every state and territory</li>
</ul>
The latter is particularly significant - with such a large amount of planned infrastructure projects in the pipeline, it means a widening radius of areas that could experience <a href="https://www.dpn.com.au/news-resources/sydneys-top-growth-suburbs">significant capital growth</a>.
The other significant attraction of Australia as an investment location is its rapidly growing population. The 2015 Intergenerational Report recently revealed that, by 2054-55, Australia's population is expected to grow to nearly 40 million - an increase of almost 17 million. This means more households needing homes, pushing up demand for currently scarce housing stock - according to Master Builders Australia Chief Executive Wilhelm Harnisch, there is currently a shortfall of 9 million homes in regard to this target.
What kind of properties can international buyers purchase?
Australian citizens, whether here or abroad, as well as foreign nationals with permanent resident visas, have no restrictions on what kind of properties they can buy. Everyone else will have to seek prior approval from the Australian Foreign Investment Review Board once they've chosen the property they want to buy. 
Once you've applied, you should receive a decision between 30 days. It's also important to note that there are certain limits on what kinds of property foreign nationals can buy - broadly speaking , foreign buyers can only purchase new homes or vacant land, and only for investment purposes.
The essentials of buying an investment property in Australia
Before making your investment, be sure you're aware of the full cost of investing. You'll need at least 5-10% of the purchase price to make a deposit, as well as enough to cover supplementary expenses, such as:
<ul>
<li>Stamp duty, which varies from state to state</li>
<li>Legal costs</li>
<li>Insurance</li>
<li>Building inspections</li>
</ul>
Most foreign buyers can borrow 80% of the property's value, allowing them to avoid the cost of lenders mortgage insurance. 
In order to successfully invest, you'll also need to get the <a href="https://www.dpn.com.au/services/home-loans-finance">right investment finance</a>. Some lenders now offer the same features and interest rates on mortgages for non-residents as they do for more typical borrowers, including extra repayments, 100% off set accounts and the option of interest only loans. DPN are credited with all of the major banks and lenders, including those who offer non-resident home loans, so we can be instrumental in securing the right loan for you. 
Thanks to the record low interest rate environment currently prevailing in Australia, there's never been a better time to invest. However, you won't want to enter the market without a solid strategy in place first.
This is where DPN come in. Whether you're an Aussie expat living abroad or a foreign national wanting to invest in our property market, we can provide you with a <a href="https://property%20investment%20plan">free property investment plan</a> that matches your goals and circumstances with a specific property-buying strategy. We can then move on to finding you the right loan, and provide you with peace of mind with our rental guarantees.
Sam Khalil is founder and director of <a href="https://www.dpn.com.au/" target="_blank">Direct Property Network</a>.
Direct Property Network (DPN) provides clients with an end to end property investment solution from selecting the right property through to settlement and beyond.
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Why Australia is a prime target for overseas property investors: DPN's Sam Khalil

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The Foreign Investment Review Board (FIRB) chairman Brian Wilson said a national register for property transactions was needed to help track buying by foreigners who are barred from buying established residential property. 
"There are about 11 million residential dwellings in Australia, and about 600,000 property transfers every year," Wilson told the Australian Securities and Investment Commission's (ASIC) annual conference.
"It is inevitable some of those properties will be exchanged contrary to the law, but our ability to first discover and then prosecute these cases is sorely limited."
It has been mooted that responsibility for managing the register will be undertaken by the Australian Taxation Office (ATO).
"The ATO is better set up for coordinating a big data approach than Treasury, which is a policy body," Wilson said.
Wilson said the register idea has "wide support" but will require the support of state and territory land titles offices. Property Observer has previously written on the challenge of getting all states, <a href="/expert-insights/buying/tony-abbott-suggests-foreigners-pricing-out-young-home-buyers">especially South Australia in agreement</a>.
Queensland is the only state that currently seeks to ascertain if the buyers are foreign.
"This is not a straightforward process but I am confident this will get a place on the Council of Australian Governments agenda," Wilson said.
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FIRB says ATO best placed to catch illegal property acquisitions

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The federal government’s proposed changes to the Significant Investment Visa (SIV) program has the potential to shut the program down, according to the property, finance and immigration firm Ausin Group.
From the 1 July the government is planning to force SIV clients into alternate asset classes, restrict investing in residential property and prohibiting the direct purchase of government bonds.
Joseph Zaja, the managing director of Ausin Group says the proposed changes are seeking allocations of up to 50% in venture capital and micro-cap companies, which are considered high risk investments. 
“The Australian venture capital and micro-cap sectors are very small," Zaja said.
"It would be difficult to find investment opportunities and the expertise to significantly increase this allocation which would be required under the proposed visa guidelines in the short-term.”
“Under the proposed rules Ausin’s immigration consultants expect investors to shun Australia’s SIV program and start to look for more viable alternatives such as business visas or the Investor Stream Visa.
"They also expect interest in Canada and the USA’s comparable visa programs to increase as their programs are more affordable when compared to Australia’s visas.”
Ausin noted that according to Australian Private Equity &amp; Venture Capital Association Limited’s (AVCAL) 2014 Year Book, over the last five years approximately $150 million per year was raised for venture capital funds in Australia by on average three or four managers. 
“The proposed changes to the complying investment visa requirements for SIVs has the potential to significantly impact on foreign investment in this country," said Zaja.
"Limiting the venture capital and mico-cap allocations to 10-20% will deliver a manageable increase in capital for these investment sectors. 
“Eliminating the small cap requirement and allowing clients to balance their remaining portfolio with assets of their choice would ensure SIVs remain a viable alternative in this country.”
The company is one of Australia’s largest privately owned companies providing property, immigration and financial services advice to both Australian and Asia Pacific markets.
Ausin sells properties for Australian Stock Exchange (ASX) listed companies and private property developers in Australia and New Zealand. Its offices are located in Sydney, Melbourne and 11 major capital cities in Asia. It employs over 350 staff across these offices.
Under the proposed rules, investors would also be forced to only invest up to 10% in residential property. 
Zaja says he agrees that the SIV complying investment guidelines should restrict the direct purchase of existing residential property, "however investing in residential real estate projects should be encouraged".
“The additional residential housing investment generated from the SIV program provides significant benefits to the real estate sector and country including creating jobs, increasing housing supply and generating revenue from stamp duty," he said.
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Changes to venture capital SIV rules will turn investors away from Australia: Ausin Group

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Chinese banks have extended US$16 billion (A$21 billion) in credit lines to shore up the Evergrande Real Estate Group, which is controlled by the billionaire Xu Jiayin, the controversial $39 million Point Piper trophy home buyer,The New York Times reports.
Evergrande announced that since February, it had secured new credit lines totaling 100 billion renminbi, or US$16.2 billion (A$21.24 billion).
It included a new, 30 billion renminbi (A$6.3 billion) commitment on Monday from the Bank of China, which regards the developer as "its most important bank-wide long-term partner," Evergrande said in a news release.
<a href="https://www.evergrande.com/en/default.aspx" target="_blank">Evergrande</a> is one of China's biggest developers, with sales last year of more than 130 billion renminbi (A$27.27 billion). But it is also one of the most indebted, borrowing heavily from foreign investors in the United States dollar offshore market — debts that become more expensive to repay as the renminbi weakens.
Evergrande had total borrowings of 151.8 billion renminbi (A$31.83 billion) at the end of June, the most recent figures available. But that figure did not include an additional 44.5 billion renminbi (A$9.33 billion) worth of perpetual bonds, so called because they have no fixed repayment date, which the company carries on its books as equity.
Evergrande was founded in 1996 by Xu, now its chairman and majority shareholder, who the New York Times noted had a run-in with the Australian government when the Australian treasurer, Joe Hockey, <a href="/news/point-pipers-villa-del-mare-back-for-sale-as-australian-treasurer-thwarts-chinese-billionaire">ordered the company to sell his $39 million mansion, Villa del Mare</a> (pictured above).
Property Observer notes the Villa del Mare title, held by Golden Fast Foods, holds no declared borrowings against on title or with its ASIC registered company.
Macquarie Wealth Research recently noted Evergrande had posted weak sales recently.
But the board of directors informed shareholders the group is expected to record an increase in the Group’s net profit in the range of between 25% and 35% for the year ended 31 December 2014, as compared with the previous year.  
Click to open in new window:
<a href="/images/2015/03/18/macq-mar-18-one.jpg" target="_blank"><img src="/images/2015/03/18/macq-mar-18-one.jpg" alt=""></a>
<a href="/images/2015/03/18/macq-mar-18-two.jpg" target="_blank"><img src="/images/2015/03/18/macq-mar-18-two.jpg" alt=""></a>
<a href="/images/2015/03/18/macq-mar-18-three.jpg" target="_blank"><img src="/images/2015/03/18/macq-mar-18-three.jpg" alt=""></a>
Source: Macquarie Wealth
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