Australian farms lure investment from China

Business increases 10-fold in six months as cattle, cotton snapped up

CANBERRA, Australia - Chinese investment in Australian farms increased 10-fold in the past six months, real estate agents said, as Australia relaxed rules governing residential property purchasing and buyers see opportunities in agriculture.

"They are interested in large scale cattle farms, they are cashed up and see a financial opportunity here in a secure investment environment," said Geoff Hickson, real estate manager at Landmark Operations Ltd. "There has been a big increase from Chinese buyers in the past six months, it has grown 10-fold."