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Chinese buyers overtake Japanese as top foreign spenders in Oz

By Juwai, 28 January 2012
Overseas property buyers from China have overtaken the Japanese as the biggest spenders in the Australian state of Queensland, having upped their buying pattern three-fold during the global financial crisis says a new report from the agency group CBRE. Overseas Property Professional reports. January 27, 2012 -- More than 30% of all Australia’s real estate investment from abroad is coming from China, and Queensland is a popular target. The Chinese account for 40% of foreign sales on the Gold Coast and 35% in Brisbane.