NEWS
Overseas buyers splurged on Queensland properties last financial year and the spending spree shows no sign of slowing. The Gold Coast is the most popular spot.
Research by property firm PRDnationwide reveals that foreign buyers snapped up 1495 properties worth almost $621 million in the state last financial year.
Sixty-three per cent of the properties were bought for investment.
The most popular location was the Gold Coast, which attracted $297 million in foreign spending, followed by Brisbane with $117.6 million and the Sunshine Coast with $54.2 million.
Overall in Queensland, the largest number of foreign buyers came from the United Kingdom, followed by New Zealand and Singapore. On the Gold Coast, 525 properties were sold to foreign buyers. It was most popular with Singaporeans, followed by people from the Russian Federation and then New Zealand.
Source: news.com.au
Published: 14 December 2008
