Chinese investment could drive up property demand in the Northern Territory
Property investors looking for a lucrative real estate purchase may be interested in the Northern Territory market, with the region tipped for exponential growth in the future.
The territory's resource industry continues to grow and strengthen - a trend which is likely to see demand increase on the local residential property sector.
This week (November 27), a major Chinese mineral development investor announced it expects to see its operations in the Northern Territory spike amid promising new exploration results.
Minister for mines and energy Willem Westra van Holthe said East China Mineral Exploration and Development Bureau's (ECE) re-affirmed commitment to the resources sector will drive growth in the territory.
"ECE has invested tens- of-millions of dollars into the territory and we hope to build that relationship in the future," Mr Westra van Holthe said.
"It's pleasing that ECE are in Darwin today to talk about their very encouraging exploration results."
As the Northern Territory grows with its expanding resource sector, there is likely to be more people looking for rental properties in the region - indicating potentially higher yields for investors with leased real estate.
Mr Westra van Holthe said the relationship with China will bolster the local economy and generate more opportunities for Territorians as a result.
"Partnerships like this, based on mutually agreeable goals, will feed our future growth," he added.