The Queensland government's latest annual report of foreign land ownership has been released. The report shows Chinese 2013/14 investment in Queensland is up 88% in dollar terms over the prior year, to $872,519,760. Chinese have been the biggest buyers for three years in a row. Yet, Chinese still own less land than other nations.

Even investors from Switzerland own more land in Queensland than do Chinese. China's stock of foreign assets, not just in Australia but around the world, is still small compared to the size of its economy. That's one reason you can expect large annual purchases to continue for many years.

People who have been holding Queensland property are now cashing in and making a tidy profit from Chinese investors. Chinese developers are one important buyer group in Queensland, and it is thanks to them that the state will soon have some of its most distinctive and attractive architecturally designed buildings.

Brisbane and the Gold Coast are two of the top five destinations in Australia for Chinese buyers, according to Juwai.com data. Chinese buyers are already comfortable with high-rise living and these shining cities by the sea are very attractive.

In the last two months, one of the big beneficiaries has been Surfers Paradise. The Juwai.com Purchasing Intent Index for Surfers in July and August is up dramatically over the first half of the year.

If Queensland wants to continue to benefit from international investment it should work very hard to protect its natural environment, especially the Great Barrier Reef. The Reef is one of the great symbols of the state and an attraction that brings many Chinese tourists who otherwise wouldn’t go to Queensland. Once they visit, they are much more likely to purchase property.

Other investments that more than pay for themselves via increased investment are education, airports and tourist infrastructure and tourism and investment marketing in China.

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