The Australian property market is attracting a growing number of overseas investors, particularly Chinese investors. What if you are planning to invest in the Australian property market and only know Sydney, Melbourne? Then you're out! Today, Mackay, Queensland is the most popular place for Chinese to invest in Australia.
Mackay, Queensland has recently become an up-and-coming area for Chinese property investment. According to Juwai.com, excluding Australia's capital city, the Mackay region is one of the top 10 regions in Australia that Chinese property investors are most interested in, including areas such as Rockhampton and Townsville.
Mark Beale, Sales Director for real estate firm Ray White Whitsunday, is not surprised by the data. He is in charge of the auction of the multimillion-dollar Queensland mansion Mandalay? which attracted many East Asian investors once it went on sale. He noted that most of the foreign visitors to Airlie Beach are from China, which will undoubtedly also drive an increase in the number of Chinese investors.
Laguna Quays Resort was once a picturesque 18-hole golf course, but in September last year, it was purchased by Chinese developer Fullshare Group. China-Australia Entrepreneurs Association Incorporated (CAEAI) revealed in January this year that Airlie Beach is one of their sites for diversified property development, with plans to build a complex of casinos, Chinatown-style restaurants and a Buddhist temple in the area.
Bill pointed out that in the past, most of the property investors in Airlie Beach had come from Australia's domestic capital city, and said the Chinese-built upscale buildings played a "crucial" role if the region aimed to profit from the Chinese investors.
The constructions in Airlie Beach emphasizes on the characteristics of the famous Chinese tourist attraction "mountain and water". Bill said: "The purpose of this is to give visitors a sense of peace and tranquillity. Over the next five years, Airlie Beach will improve significantly and the overall look will be brand new."
According to expert analysis, the abundance of mineral resources is an important factor for Queensland to attract more overseas investors. Today, Queensland is known to have more than 230 major infrastructure projects with investment capital reaching a figure of $100 billion. This will bring a huge employment program to Queensland, attracting more people to these project sites, as well as accelerating population growth here, while making the Queensland property market more vibrant.
Queensland's main economic drivers are mineral and tourism resources. Coal mining is Australia's second largest export industry, while Queensland's coal production is 80% of the country's, and is concentrated in Mackay, one of Queensland's three largest economic cities.
Most international mining companies are now headquartered in Mackay, bringing quality jobs and affluence to the area and stimulating the development of the local property market. In addition, Mackay is rich in tourism resources and is the southern gateway to the World Natural Heritage Great Barrier Reef, where the Whitsundays and 6-star resorts are world-famous.
Savvy Chinese investors have long seen this advantage in Mackay and have been investing in the property market there. It is believed that with the further boom in the property market there, it will also drive up Queensland house prices further.