Queensland Suburbs Attracting Overseas Property Investors

Overseas property investors are being attracted to Queensland, and in particular the beach-side suburbs and those close to universities.

Properties in Surfers Paradise were the most popular for searches by foreign investors over the last six months according to data from property search website realestate.com.au.

During that time there were 29,494 overseas property investors who searched for properties in the popular surfer’s suburb.

Surprisingly, Chinese buyers were not the nationality most searching. That accolade went to buyers from New Zealand, followed by UK investors.

The second most popular area was Noosa, which chalked up 19,687 searches followed by Broadbeach with 18,751.

St Lucia, home to the University of Queensland, was the most searched Brisbane suburb with 18,199 searches by overseas property investors in the past six months.

It seems that while coastal holiday hotspots are popular, there are many investors looking to purchase near the highly thought of Queensland universities, in order for their children to study there.

It is hardly a surprise that Surfers Paradise was number one on the list. It has the highest profile of any suburb on the Gold Coast and it was a natural magnet for many overseas tourists.

There are also a lot of new buildings under development, making it the best option for overseas property investors, as it is easier to get foreign investment approval and these properties can be safely locked up or rented out when the investor is out of the country.

Under Australian legislation foreign persons need to apply for foreign investment approval before buying residential real estate in Australia. It is generally for newly built properties with an aim of their investment helping to create construction industry jobs.

SUBURBS MOST SEARCHED BY FOREIGN BUYERS

Surfers Paradise – 29,494

Noosa Heads – 19,687

Broadbeach – 18,751

St Lucia – 18,199

Southport – 18,134

Mooloolaba – 16,092

Burleigh Heads – 14,765

Indooroopilly – 14,142

Robina – 12,921

New Farm – 12,668

COUNTRY OF ORIGIN

New Zealand

United Kingdom

United States

Hong Kong

Philippines

Canada

Singapore

Japan

China

South Africa