Property

Gympie foreign investment from all corners of the world

LOVE GYM{PIE: Views to the south and south-west of Gympie, where foreign investors have interests. PHOTO: GREG MILLER
LOVE GYM{PIE: Views to the south and south-west of Gympie, where foreign investors have interests. PHOTO: GREG MILLER

MONGOLIANS, Poms, Germans and Americans - they all love Gympie.

Department of Natural Resources and Mining data reveal investors from these countries bought 2573 hectares of land in the region last financial year.

Interests from Mongolia spent $300,000 on just 0.4 ha.

United Kingdom buyers picked up 1545.456 ha, Swiss buyers took over 81.996 ha, Americans bought 937.687 ha and Germans investors now own 9.35 ha.

Compared with the rest of the state, Gympie's land sales to overseas interests were tiny - particularly when likened to the Sunshine Coast and growth cities Ipswich, Mackay and Toowoomba.

Kiwis boosted the Sunshine Coast's tally when they handed over $4,998,500 of the total $15,636,250 foreign investors spent there.

Ipswich land worth $92.5 million changed hands, while Mackay investors forked out $35,681,750 for 2092.645 ha and Toowoomba had $11,362,780 in sales.

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

"It's (foreign investment) a tick for the economic performance of local regions. That's all positive."

Fact box

Country, Area (ha), Value

Mongolia: 0.4, $300,000

United Kingdom: 1545.456*

Switzerland: 81.996*

United States: 937.687*

Germany: 9.35*

* Value of land purchases was not available.

Source: Department of Natural Resources and Mining.

Gympie Times

Topics:  foreign investment gympie property



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