Business

Thai owners invest $1.2m in Fraser Coast land

Aerial view of Maryborough, the pocket, Downer EDI.
Aerial view of Maryborough, the pocket, Downer EDI. Megan Pope

THE Fraser Coast is a sardine compared to the big fish in the sea of Queensland foreign land investment.

Department of Natural Resources and Mining data shows overseas interests spent $1.76m on 237.987ha of the region's land last year.

Interests from Thailand spent the most on the Fraser Coast with $1.2m fetching 158.367ha.

New Zealand investors were hot on their heels as they grabbed 7.876ha for $420,000.

United Kingdom investors spent $140,000 on 71.744ha.

Fraser Coast Real Estate Institute of Queensland zone chairwoman Linda Bland said the turnover was small compared with the region's property turnover.

"I don't think that we've noticed that there's been a big change or demand over the last year or so - in comparison to the rest of the market, it's still a very small proportion," Ms Bland said.

"Generally, the REIQ supports foreign investment because - with the rules by the Foreign Investment Review Board - it's really about creating extra stock and expanding the opportunities for affordable housing in the area and that's certainly an ongoing issue - there's not really enough stock."

Ms Bland said more international investors were needed.

"Any policy that supports providing more affordable housing is just going to benefit the region," she said.

"I don't know if it's something the regions can do, but with more policy structures to provide incentives, the region would generally support it.

"Our region is generally reliant on the construction industry and anything that creates more construction, more jobs and contributes to the economy.

"I'd certainly like to see any investment - whether it be foreign or otherwise that's good for the market."

Property investment expert Dr Andrew Wilson, of the Domain Group, said attracting international investors was vital for a strong economy.

"It is money coming into the country and foreign exchange is part of trade, so that's a positive because it does add to the wealth of our country - it's an import of capital," Dr Wilson said.

"It's an opportunity from that import of capital to create higher levels of investment and that's part of activating economic activity."

FOREIGN INVESTMENT

  • The value and amount of Fraser Coast land bought by foreign interests in 2013-14.
  • Thailand: 158.367 hectares, value $1,200,000
  • New Zealand: 7.876 hectares, value $420,000
  • United Kingdom: 71.744 hectares, value $140,000
  • Total: 237.987 hectares, value $1.760m
  • Source: the Department of Natural Resources and Mining.

Topics:  foreign investment, thailand




Island residents shocked after attack on likeable paramedic

Eurong resident David Anderson works as a first responder on Fraser

Wallaroos smashed by bigger, stronger Waves Tigers

TOO BIG: Vahiti Hopoi pushes through Wallaroos’ defence during Sunday’s game.

Waves were too big and too strong for Wallaroos.

Hervey Bay’s historic rugby league winning streak continues

EASY TRY: Joel McCrea breaks through uncontested for one of Hervey Bay Seagulls’ tries during their 50-0 win over Wests Panthers yesterday.

It's the first time Hervey Bay Seagulls have won this many in a row.

Latest deals and offers

Day 2 Splendour Pictures

Sticky Fingers perform at Splendour in the Grass 2016. Photo Marc Stapelberg / The Northern Star

Splendour in the Grass Day 2 covered in pictures.

WATCH: News reader tries her hand at hardcore shooter, Doom

Veteran journo and noob gamer takes a shot at Doom

What's on the small screen this week

MasterChef Australia's final four contestants, from left, Harry Foster, Elena Duggan, Elise Franciskovic and Matt Sinclair.

MASTERCHEF makes way for The Bachelor on Ten's reality TV slate.

Guy Sebastian a hit at Splendour in the Grass

Guy Sebastian performs at Splendour in the Grass with Paces.

REALITY TV judge a hit with festival crowd.

Superheroes of the big screen enjoy sounds of Splendour

CHRIS Hemsworth and his Avengers mates drop by Byron festival.

Indigenous artist shows tourists secrets of Aboriginal painting

Ever thought "I could do that" about Aboriginal art?

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

72-year-old Coast developer set to start new project

GREEN LIGHT: The Cosmopolitan has been approved for development at Cotton Tree.

Meet the Canberran set to deliver another chapter for Coast suburb

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd

Ecco Ripley sales run sparks prime release

MOVING IN: Sekisui House has announced the release of more residential blocks at Ecco Ripley.

Sekisui House is preparing to unveil more land at Ecco Ripley

The climb is slow but property on the way up

Michael Matusik, director of Matusik Property Insights.Photo Allan Reinikka / The Morning Bulletin

The improvement would be mild when compared to past cycles