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Oversaes property investors are pouring their spare cash into Queensland, Australia's 'Sunshine State', spending more than $1 billion on Queensland real estate last year.
The property drive has resulted in 1.29 million hectares of land in 22,046 parcels being owned by people from 132 countries, with investment jumping from $1.6 billion in 2005-06 to $2.6billion last year.
But Natural Resources Minister Craig Wallace said foreign ownership represented only 0.75 per cent of the state - down from 1.8 per cent a decade ago when foreign ownership of Queensland was at its height.
Buyers from Britain led the purchase pack last year, spending $252 million, followed by New Zealand ($141.9 million), Japan ($86.1 million), The Netherlands ($75.5 million) and the US ($54.8million).
In the 1980s, when foreign land ownership was a hot political topic in Queensland, it was because Europe...
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