Indeed, as seen in this table below, a large proportion of commercial, industrial and tourism properties were sold to foreign buyers during the September quarter.
From the latest ANZ-Australian Property Council survey for the December quarter, it provides a breakdown of the proportion of property sales by type and location in the three months to September.
For clarity purposes, this data is derived from responses from around 1,400 respondents including owners, developers, agents, managers, consultants and government officials in the latest survey.
Put another way, it’s self-reporting, rather than actual numbers.
Still, it provides a fairly good guide as to where and what type of properties were snapped up by foreign investors during the quarter.
While Australia’s most populous states remain favoured destinations for investors, the proportion of sales to foreigners remains fairly consistent across the country.
According to data from Australia’s Foreign Investor Review Board (FIRB), $247.9 billion worth of investment was approved in the 2015/16 financial year, up from $191.9 billion in the prior financial year.
China, at $31.9 billion, was the largest source of investment in real estate, easily overshadowing the United States in second place at $8.2 billion.