New data from Federal Treasury reveals a significant influx of foreign investment in Australia’s residential real estate market, totalling $5.3 billion within the first nine months of 2023.
Associate Buyer’s Agent Isabella Lucas and Cohen Handler Founder Simon Cohen, were interviewed by The Daily Telegraph about the strong demand from international buyers in Sydney’s prestige market.
Simon explained that international investors are rushing to buy in Sydney because “It isn’t just a beautiful city with prime real estate, it is a city with evidence of incredible investment returns”.
“Sydney is the perfect place for overseas buyers to park their money”.
Despite concerns about the impact on local buyers, PropTrack Economic Research director Cameron Kusher reassures first home buyers that they are unlikely to be affected, as foreign investors primarily target high-end properties.
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