A Chinese real estate company called China's Capital Investment Group recently bought Queensland Daydream Island Resort for the bargain price of just over $ 30 million.
The purchase can only be described as a bargain compared to its original price $ 65 million.
Last October Agent CBRE Hotels' Wayne Bunz said he expects the sale to go to an investor in Asia after the market specifically targeted video ads recorded in Mandarin.
"The Chinese are absolutely in love with the Great Barrier Reef, so we're hopeful we'll get some renewed interest," said Bunz News Limited.
"The key is for the Chinese, that if you look around in any major economy, Australia is seen as a fairly safe haven for investment.
"It also helps that the lower and the dollar tourism is on the rebound with strong growth in the Chinese market input."
The Island resort is the latest in a series of sales in the Whitsundays, following the sale of Lindeman Island to Chinese group, Whitehorse in 2012, and Orpheus Island by $ 6,250,000, Bedarra Island for less than $ 5 million and Dunk Island $ 7.5 million, all in 2011.
The one kilometer long island is home to a complex of 296 rooms 4.5 stars built by the founder of Nature Vaughan Bullivant, who paid $ 25 million for Daydream in 2000.
After an extended period in the market, the selling price was fair islands fall before Christmas.
The annual turnover of the town is estimated at $ 27 million.