 |
| Click to Enlarge |
Next on the list was the UK ($3.5 million), NZ ($2 million) and Japan ($1.9 million).
Other notable buyers were from the Czech Republic ($680,000), Greece ($530,000), Hong King ($491,470), Argentina ($490,000) and Malaysia ($394,300).
Hong Kong residents own the largest amount of land (1116ha) followed by Belgium (492ha), the UK (352ha), Japan (278ha) and China (91ha) while UK investors own the largest number of land parcels (257) followed by Japan (214), NZ (212) and PNG (101).
CBRE Cairns managing director Danny Betros said there had not been many large sales to PNG investors in recent times.
He said the last large sale was the $19 million three-storey office building at 120 Bunda St to a PNG consortium in July 2010. The building was bought by Mineral Resources Lihir Capital Ltd, a company that receives royalties from the $1 billion gold project on Lihir Island, and invests in property and other concerns on behalf of the community.
In May last year, a PNG family’s first foray into the Far North’s commercial property market was expected to be the start of further investments.
The Honale family bought the home of Channel 7 local news in Mulgrave Rd, Parramatta Park, for $3.2 million.
Mr Betros said there were about 12 groups representing PNG investors active in the Far North. He said the mining boom was sparking interest by PNG investors in the Far North as well as because of its close proximity.
It is understood a PNG consortium is also eyeing off one of the Cairns CBD’s largest office blocks, the Corporate Tower.
Greg Wood of Knight Frank Cairns said interest in property in Cairns had dropped off following the political stability in PNG.
Mr Wood said he expected the number of Australians and others working in the PNG resources sector to start buying mainly residential properties in Cairns for their families.
The Far North’s lifestyle, attractive property prices and the resource boom is drawing investors from PNG as well as Western Australia and Darwin who are snapping up prestige waterfront homes and land in the elite Bluewater estate.
The Cairns Post - Wednesday, April 11, 2012
Writer: Nick Dalton
Peter Musso licensed real estate agent at Ray White Cairns Beaches selling property in Cairns' beautiful northern beach suburbs including Trinity Beach, Kewarra Beach, Clifton Beach, Palm Cove, Trinity Park, Smithfield, Yorkeys Knob, Holloways Beach, Machans Beach, Caravonica and surrounds.
The Kings Town Lahore is the undertaking of Al Kabir Developers. It is created, improved, sufficiency and moderate. Over the most recent few years, the Kabir Town Process I was a triumph. The affiliation has cut its solidarity for private and corporate necessities as the most required objective. Al-Kabir Town (Pvt.) Ltd. offers the edges of the monetarily rich city of Lahore with a prohibitive methodology for living. In carefully coordinated cushions, Al-Kabir Town Apartment Homes guarantee new classified trained professionals.
ReplyDelete