It's no surprise that the Chinese buyers have started to feel the pinch of rising prices in the traditional markets of Sydney, Vancouver and Hong Kong - each of these jurisdictions have recently applied a surcharge tax for foreign investors in residential property.

 Whether this is to deal with the public backlash on rising prices or simply to replace other forms of lost revenue is a matter of opinion - the proof will be in what use the additional funds get put to.  

Australia needs to remain competitive in the race for global capital, with the growing wave of Chinese investors prepared to look further afield and wanting more bang for their buck.