• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Results 1 to 5 of 5
  1. #1
    Join Date
    Sep 2003
    High up above and deep down under

    Default Foreigners outspend locals on Queensland residential property in 2011

    Foreigners outspend locals on Queensland residential property in 2011

    ATTRACTIVE: The Surfers Paradise Hilton is on the overseas buyers' list Source: The Courier-Mail

    WHILE many locals decided not to dabble in the Queensland property market this year, it continued to be attractive to overseas buyers who spent $334.2 million on residential property.

    And buyers from China once again topped the list, according to new research by Colliers International.
    The figures on buying patterns during the 2010-2011 financial year have shown 733 residential sales to foreign buyers.
    In all, 506 of those sales were investments with 277 for owner-occupiers.
    While overseas buyers eased back on spending, it was not at the same level of decline as local buyers.
    Buyers from China actually stepped up their spending. They forked out $106.8 million on Queensland property - an increase of 50 per cent on last year.
    The Chinese have not only been interested in buying residential property in Queensland, but also developing it.
    Chinese-owned development and construction firm Yanjian Australia has started work on a $72 million, 142-apartment building in Charlotte St in the Brisbane CBD, and on the Gold Coast the Australian arm of the Chinese development group Ridong (RDG) plans to build a $950 million three-tower residential project, named Jewel.

    Colliers International Gold Coast research manager Lynda Campbell said about half of the spending on Queensland residential property by overseas buyers was on the Gold Coast, which accounted for $165.3 million in 310 transactions.
    Brisbane was the second most popular area. It recorded a $4.5 million increase from the previous year with $86.2 million spent across 180 residential sales.
    Golf course estates are also popular, while n Surfers Paradise the Hilton attracted overseas buyers.
    Tony Holland, Colliers International Gold Coast Director of Project Marketing, said the ceiling for overseas buyers on the Gold Coast appeared to be about $750,000, while in Brisbane it was between $320,000 and $500,000.
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  2. #2
    Join Date
    Nov 2011


    wow! interesting that more than 30% of foreign buyers were chinese - alot more than the other countries, and also more than us aussie locals. I wonder what the implications are (positive or negative) with much of the property being bought by foreigners?

  3. #3
    Join Date
    Aug 2003


    The Chinese want to put there $$ somewhere outside of China and property is a good bet - they are also buying up in USA and Canada.

    I can't imagine the returns are too hot in Q'land right now but that may not be an issue for the investors who are essentially parking their $$ outside their communistic country.


    PropertyTalk Blog - property articles - About PropertyTalk

    BusinessBlogs - the best business articles are found here

  4. #4
    Join Date
    Sep 2007


    Yeah that's right Donna, that's exactly what's happening.

    In China, your money is not safe, the government can just come along, throw you into jail on some trumped up charge and take your assets. Even if you did everything legitimately.

    But in some cases of course, the money is earned fraudulently, and a good way to launder it is to buy property in say Aus/NZ. They might be getting a low return, but who cares when it's stolen money. You just leave it in the property for ages.
    Squadly dinky do!

  5. #5
    Join Date
    Nov 2011


    Thats a really interesting point of view davo and donna. I never thought about it that way.
    Yeah, I suppose I would do that as well if I were a Chinese investor. It would scare me that the communist gov't could just take my assets anytime they want. I'd prefer to invest in QLD and elsewhere as many are already doing.


Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Locals priced out by $24b Chinese property splurge
    By muppet in forum Property Investment (Oz)
    Replies: 53
    Last Post: 10-09-2014, 08:21 AM
  2. Foreigners wary on property
    By muppet in forum Property Investment (Oz)
    Replies: 1
    Last Post: 05-10-2012, 06:19 PM
  3. NZ Property Investor Mag Nov 2011 - Khoon Go is gone ?????
    By Bluekiwi in forum Property Investment (NZ)
    Replies: 2
    Last Post: 08-11-2011, 12:48 AM
  4. Property Trading in 2011
    By MullerGroup in forum Property Investment (NZ)
    Replies: 18
    Last Post: 13-01-2011, 10:32 AM
  5. Wealthy migrants pricing locals out of Sydney property market
    By jenny_pt in forum Property Investment (Oz)
    Replies: 1
    Last Post: 29-01-2010, 10:39 PM
  6. Where not to buy property in Queensland
    By muppet in forum Property Investment (Oz)
    Replies: 0
    Last Post: 03-05-2008, 01:45 PM
  7. Queensland property still healthy
    By Walter in forum Regions News (Oz)
    Replies: 0
    Last Post: 08-03-2007, 10:55 AM
  8. NZ Property Investment by Foreigners
    By Chuckles in forum Property Investment (NZ)
    Replies: 20
    Last Post: 08-06-2005, 11:57 PM
  9. What is the lifespan of a house
    By Gerrard in forum Property Investment (NZ)
    Replies: 7
    Last Post: 25-03-2004, 11:42 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts