PHOTO: Brisbane agent Robin Yu said Chinese investors were buying property for investment and lifestyle. ABC News: Kirrin McKechnie
Chinese property investment is soaring in Queensland as a record number of students from the country enrol to study in the Sunshine State.
Data from the Foreign Ownership of Land Register shows Chinese investors spent about $1.5 billion on Queensland properties in 2016-17 — up from $872 million two years earlier.
Nearly all the money was spent on properties in the Brisbane and Gold Coast local government areas, where more than 6,000 parcels of land were under Chinese ownership at the end of the 2017 financial year.
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