SALE OF LAND TO ASIANS
Australian’s New
Venture
(N.Z. Press Assoctation~Copyright, SYDNEY, December 2.
An Australian land development company plans to sell from 200 to 300 blocks of land—mainly in Victoria—to Far Eastern buyers in the next year.
It has already sold 100 blocks, at about £lOOO each, to buyers in Hong Kong and Singapore. Of the buyers 60 per cent were Chinese and 40 per cent. European. Mr A. G. Whelan, chairman of the Savoy Corporation, told a meeting of shareholders in Sydney last night that the eastern buyers paid the same prices as local people. “A lot of the eastern people who have bought land have children going to school here,” he said.
Mr Whelan said he saw no difference between selling Australian steel to Japan, and selling Australian real estate on Asian markets in Hong Kong and Singapore. “All we are exporting is title certificates,” he said.
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Bibliographic details
Press, Volume XCVIII, Issue 29068, 3 December 1959, Page 8
Word Count
150SALE OF LAND TO ASIANS Press, Volume XCVIII, Issue 29068, 3 December 1959, Page 8
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