Foreign ventures in Queensland could offer investment opportunities
A number of investment opportunities could be on the horizon for anyone interested in purchasing real estate in Queensland, as a report on foreign ownership in the state was released late last week.
The Foreign Ownership of Land Register, released last Friday (November 1), highlighted that "interests" from 64 different countries had invested almost $1.9 billion in Queensland property during 2012/13 - presenting an opportunity for those with investment property to potentially earn a return in the near future.
Minister for Natural Resources and Mines Andrew Cripps said the high level of international investment in the state is great to see, especially when it comes to getting the economy back on track.
"The government supports foreign investment because it helps stimulate economic activity and creates jobs across a number of key sectors including agriculture, mining, tourism, construction, real estate, legal and finance," said Mr Cripps in a November 1 statement.
As of June 30 2013, the Foreign Ownership of Land Register showed that overseas interests owned 5,084,200 hectares of Queensland's land. This is less than 3 per cent of the state's total land area, and is only a slight increase over the 4,806,100 hectares owned during 2011/12.
Mr Cripps also mentioned the value of acquisitions during this period grew from $1.077 billion in 2011/12, up to $1.899 billion during the last financial year.
This was in part due to a number of commercial, retail, hotel and accommodation property transactions increasing throughout Brisbane's central business district, and the sale of Cubbie Station in South West Queensland.
China topped the chart for the highest value of acquisitions in the region during the last year, with a huge $323 million invested in various ventures throughout the state.
Following this, Singapore ($317 million), the United States of America ($269.3 million), Malaysia ($205.1 million) and Japan ($164 million) rounded out the top five foreign investors.
With the amount of investment in Queensland expected to continue growth, now could be a great time to purchase investment property in the state.
Regardless of whether you're interested in commercial property or residential real estate, with economic growth shifting into overdrive, the state could be the most viable option for achieving rapid returns in Australia.