Ipswich hot property for international investors
LAND in Ipswich has become an attractive option for foreign buyers - and real estate experts say there is more overseas money on the way.
As reported in today's edition of The Queensland Times, overseas investors are snapping up land in the region, spending a whopping $92.5 million on 790ha in the last financial year.
Buyers from China spent the most on land in the region in 2013-14, followed by purchasers from Canada and the Netherlands.
The good news for the local economy is that real estate experts believe these figures are just the tip of the iceberg for the Ipswich region.
With several major developments in the pipeline and the city's population projected to skyrocket, this strong investment figure has been described as 'a drop in the bucket' compared to what will unfold in the next decade.
The cash injection into developments will hopefully have a positive flow-on effect for local businesses and residents and provide a significant boost to the local economy.
Foreign investment is expected to be a vital part of Ipswich's economic performance in the years to come - and it looks like international interest in the region is only going to get bigger and better.