Billionaire Harry Triguboff, the Australian property developer and Australia's fourth-richest man, is in talks with a Chinese company to sell Australia's biggest homebuilder, which he founded more than 50 years ago.

"It's of great interest for me to sell Meriton Pty", Triguboff, 81, said in an interview in Sydney, adding that he last met with the interested Chinese buyer last week, although he declined to identify the company.

"I showed them my valuation, they're looking at their valuation; that's what we're doing now."