Almost one in four new homes in NSW is being snapped up by a Chinese buyer, according to Credit Suisse analysis of NSW Revenue figures, obtained under a Freedom of Information request.

The figures also reveal the NSW government's stamp duty surcharge on foreign buyers delivered $154 million into state coffers last financial year.

Investors crowd round an Australian booth at a property fair in Beijing. Credit:Peter Hannam

This is significantly higher than the $64 million the state expected to collect from the measure when it was announced in the May 2016 budget.

The surcharge has been doubled to 8 per cent from 1 July this year and is expected to raise $111 million this financial year.