Chinese TakeAway Biggest Buyers of Property in Australia

10/13/2014 5:44:39 AM

(MENAFN- Qatar News Agency) Sydney October 13 (QNA) - Chinese property buyers have spent a record 462 million Australian dollars (400 million US dollars) on Queensland real estate last financial year a 43% increase than a year earlier a report said on Monday.

The latest annual report of Queensland's Foreign Ownership of Land Register Act released on Monday showed that the Chinese almost doubled their real estate spending in the Brisbane City Council area during 2013-14 to a record 185 million Australian dollars (160 million US dollars) up from 96 million Australian dollars (83 million US dollars) in the previous year.

On the Gold Coast Chinese investors topped the list of foreign buyers by purchasing 196 million Australian dollars (170 million US dollars) worth of property during 2013-14 5.9% more than 2012-13. (QNA)

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.