Singapore Buys More Australian Real Estate Than China

Although a small city-state, Singapore is weighing in on Australia’s real estate market.

In the two years to July 2020, Singaporean investors spent $19.3 billion on Australian property, according to the latest Foreign Investment Review Board (FIRB) data.

That’s $6.1 billion more over the same period than China.

Another view is that Singapore makes up 17 cents of every foreign dollar spent on local property, versus China’s 13 cents – despite Singapore’s economy being approximately 44 times smaller.

Singapore is now the second-largest investor in Australian real estate, behind only the United States.

These figures come as foreign investment into Australian real estate has doubled in the last here years – largely at the hands of institutional investors and large scale projects.

Geographically – and in times of unrestricted borders – the tie between Australia and Singapore makes sense, with Perth, amongst other Australian capitals, a short flying distance away for Singaporeans.

This enormous figure also boosts Singapore’s standing across all industries, now representing the third-biggest source of foreign investment for Australia – behind only the U.S. and Japan.

Former Google CEO Eric Schmidt is selling his Northern California estate, which was listed Monday for $24.5 million.

Located in Atherton, an extremely affluent town northwest of Palo Alto and about 30 miles south of San Francisco, the 3.36-acre property is made up of three parcels that Schmidt acquired over the years, according to public records and Compass, who has the listing.

Schmidt, 69, and his wife, businesswoman Wendy Schmidt, purchased the main home in 1990 for $2 million, according to public records accessed via PropertyShark. They remodelled the 1969 home in 2007, and at that time, bought a neighbouring parcel of land, allowing an expansion of the main house and the addition of a guest house, according to Compass, who holds the listing. A third parcel was later acquired, on which the Schmidts added an English garden house and landscaped grounds overlooking the Eastern Hills.

“Finding three contiguous parcels in Atherton is rare. Even rarer are those with views of the Eastern hills,” said listing agent Katharine Carroll of the reSolve Group at Compass. “The location of this residence is ultra private, at the back of a cul-de-sac with the main house built into a hillside that provides privacy and very good security.”

Across the estate, there are five bedrooms, five full bathrooms and six half bathrooms.

The 5,265-square-foot main house also offers a number of private outdoor spaces on its upper level, including a large terrace off the primary suite, another large terrace off a secondary bedroom, plus a third smaller terrace and two balconies.

Behind the main house is a patio with a pool and spa. For even more outdoor space, there’s an entertaining pavilion, an open lawn and an outdoor fireplace area near the guest quarters.

The grounds themselves are also a standout feature, with an array of mature plants and specimen trees. The upper portion of the property’s landscaping is designed around an Amdega-designed conservatory, which was imported from the U.K. Around the greenhouse, there is a garden of raised beds and fruit trees, Carroll said.

“From the moment you step onto the grounds, it feels as if you’ve been transported to a private botanical sanctuary,” she said.

Schmidt served as Google’s CEO from 2001 to 2011, and then became the company’s executive chairman until 2015. He could not be reached for comment.

This article first appeared on Mansion Global

Singapore Buys More Australian Real Estate Than China

Spending almost $20 billion in two years.