Foreign investors buying up South Australian ag land
Colliers International state director of rural and agribusiness division Phil Schell, told the newspaper that overseas investment meant his company had sold more wineries recently than in the last three years.
He said individual land holdings were not large enough for foreign buyers so Colliers was compiling portfolios of properties.
"Their (overseas buyers) appetite is definitely there, but we haven't done any deals in that space at the moment," he was quoted as saying.
"The South East Asian market is still very strong. Last year, there was probably more interest from the Middle East. They've been mainly looking to get into vineyards, wineries and horticulture.
"They seem to be a lot more urgent about food security than what we are."
He told the newspaper the business spent between 70% and 80% of its time dealing with enquiries from abroad, mostly answering questions about local conditions in South Australia and in other states.
"Their appetite started just before Christmas in beef, grain and vineyards," he was quoted as saying.