Chinese buy 7600 properties last year in Queensland
The Foreign Ownership of Land Register released by the State Government has revealed overseas Chinese buyers purchased over 7600 land parcels over the past 12 months, totalling $1.47 billion, up from $463 million in 2013/14.
It is the first time China has topped the list, taking over from the United Kingdom as the most prolific buyer of Queensland land.
China’s investment in Queensland totals nearly $1 billion more than any other country in the world over the same time period.
The total amount of foreign investment in Queensland land has risen from $1.6 billion in 2013/14 to over $4.2 billion last year.
The Foreign Ownership of Land Register released by the State Government reveals the United Kingdom maintained its position as the premier buyer of Queensland land when it comes to size.
UK owners purchased 2.2 million hectares over the year, ahead of the Netherlands with 1.9 million hectare and China with 1.6 million hectare.