Foreign investment 2012

Australian real estate including residential, commercial and rural properties have out performed the mining industry for foreign cash turnover in 2012 with the Australian Government in Canberra approving over $170 billion worth of foreign investment in Australia in 2011-12.

The annual report released by the Foreign Investment Review Board (FIRB) said the real estate sector has replaced mining investment for foreign money for the first time in many years.

Treasury gave a tick to $59.1 billion worth of overseas investment and is encouraging off shore buyers with incentives to grow their businesses in Australia and to also invest in the real estate industry to strengthen the construction industry and work place structures.

With foreign investment continuing to grow in the Australian real estate sector the property industry is showing good signs of solid grow in the coming years.