australia growing into overseas property hotspot
News Posted On: 27 January 2010
Well, it is official: the international financial earthquake that we have witnessed, survived and feared since 2008 has made a lasting impact on overseas property purchasing trends.
Never before has Australia been in the top 10 of most popular locations with Britain's but now it is. We found that Australia had been tenth most popular with those searching for and enquiring into overseas property for 2009 as an whole, and now Rightmove overseas has named Australia as the fastest climber in its chart for December.
In Australia foreigners can only buy new build property, and it is new build property that has seen the most impressive deals arising in Australia, where the domestic residential market held out against the crunch.
In fact the housing market and economy's resilience against the effects of the downturn is a big part of why Australia is currently so popular with foreign buyers. The biggest issue with today's buyer is safety and security. Thus, buyers are favouring established markets in developed economies like Australia over emerging markets.
Once you start looking at only established markets you narrow the search considerably, and Australia, with its strong economy, world-beating climate and beaches, English as the first language and a host of other benefits becomes a very big fish in a very small pond. Factor in the deals available, and some of the fantastic developments currently on offer and then you can fully see why Australia is a growing tiger in overseas property sales.
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