Federal Parliament's House Economics Committee has released the terms of reference for its inquiry into foreign investment in real estate.
The parliamentary inquiry was formed after Coalition MPs raised concerns that young families are being priced out of the home buying market.
Despite a recent increase in community concern over a rise in Chinese property investment, the chair of the committee, Victorian MP Kelly O'Dwyer said the inquiry is not focused on investors from any particular country.
A report released earlier this month by Credit Suisse estimated that Chinese buyers are expected to purchase $44 billion worth of Australian residential property over the next seven years.
The committee will look at the economic benefits of foreign investment in residential property and whether it is is actually increasing the supply of new housing and bringing benefits to the local building industry and its suppliers.
It will also look at how Australia's foreign investment regime compares internationally as well as determine whether the policy framework can be enhanced.
The committee is calling for submissions, which must be received by Friday May 9.