Chinese property investors are being lured with promise of migration to Australia
Sydney - XINHUA
Chinese property buyers have spent a record 462 million Australian dollars (400 million U.S. dollars) on Queensland real estate last financial year, a 43 percent 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 U.S. dollars), up from 96 million Australian dollars (83 million U.S. 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 U. S. dollars) worth of property during 2013-14, 5.9 percent more than 2012-13.