57-59 The Corso, Isle of Capri, sold for $15.5m this year to Chinese buyers.The figures saw the average value of established homes foreign buyers were targeting remain somewhat steady at just over $740,000 ($769,000 previously).FIRB said 13 per cent of complaints about foreign purchases of residential real estate involved Queensland property, compared to 47 per cent out from Victoria and 33 per cent NSW.It found 223 properties valued at $304.8m were found to be in breach of foreign investment rules, with owners fined over half a million dollars in total. This Hope Island mansion called Sails sold to a Chinese buyer for $11m this year. Picture: Supplied.More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoOver $530m worth of Queensland approvals were granted to foreigners buying established properties, a figure which has dropped 33 per cent over the previous financial year.“The decrease can be attributed to a range of reasons including housing market conditions, state and territory policy changes, a shift to investment in new dwellings, and the introduction of fees and processing changes,” the FIRB annual report said.It said established homes could generally “only be purchased by temporary residents for use as their home while they remain in Australia” though a “small number” were allowed to buy homes to house Australian-based workers. 159 Hedges Ave, Mermaid Beach, sold for $13.25m this year to Chinese buyers.New residential real estate made up the vast majority of the approvals granted last financial year – valued at $16.36b – with developers and off the plan approvals making up the bulk ($13.15b), followed by individuals buying new dwellings ($2.55b), those buying vacant land (over $470m) and buyers looking at redevelopment of existing properties ($150m).Chinese buyers continued to top the list of foreign investment approvals in Australia’s real estate sector, with a 31 per cent rise in the value of their approvals over the financial year. The United States, the Netherlands, Canada and the United Arab Emirates were also in the mix. 18-20 Southern Cross Drive, Cronin Island, is among homes sold this year to Chinese buyers at $11m.FOREIGN buyers were given the green light to buy just short of $17 billion worth of Queensland homes last financial year, a massive 62 per cent surge.Latest Foreign Investment Review Board figures show foreign buyers were given permission to invest in $16.9 billion worth of residential real estate across the state, up from $10.4b the previous year.The FIRB approved over 6,700 applications for Queensland property deals, a 33 per cent jump in the year, with the data also showing a 20 per cent rise in the average value of those residential investments to $2.5m.