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Asian investment is spurring a mini-boom for property management in Sydney. | Real Estate Blog – Niche Portfolio

Friday, November 30, 2012

According to a recent news article,wealthy investors from Asian and Middle-Eastern countries are fuelling a miniature property boom in Australian metropolitan areas, a new study has shown. Property management in Sydney has been strongly shaped over the past five years by increasing investment interest from wealthy Asian investors. These investors see the Australian property market as relatively affordable compared to the much tighter and more competitive markets in China and other south-east Asian nations.

Asian interest now account for around 90 per cent of all apartments proposed or developed by foreign companies in Australia. Sydney in particular has seen the most significant spike in Asian investment interest, proving to be an interesting new development for those involved in residential property management in Sydney.

The majority of investors are based in China, Hong Kong and Singapore and are voraciously snapping up property in some of Sydney’s most desirable suburbs.Suburbs close to the CBD, the waterfront and schools and universities have seen a large influx of interest from Asian investors. According to agents, for at least the past five years the bulk of offshore investment for residential property management has come from China, with the most popular corner of the market being residential apartments priced between $500, 000 – $700, 000.

John Symond, founder of loan giant Aussie Home Loans stated that the mini-boom instigated by this offshore investment interest could only serve to strengthen the Australian property market, which is encouraging news for residential property management."It creates jobs with new developments," he said. "We do have an under-supply of housing, particularly in cities like Sydney."

Another expert, Mark Bouris from Yellow Brick Road Wealth Management stated that local investors should not be sceptical or apprehensive about this influx of overseas interest; in fact he feels quite the opposite. Asian buyers “aren’t going to buy all the stock” he says, “really, we've got to embrace whoever wants to buy real estate and that will encourage more vendors."

So for those involved in residential property management in Australia, it’s going to be interesting to see how these developments in offshore investment progress. While we won’t be making any judgement calls just yet, anything that makes housing more affordable and accessible for Sydneysiders will be important to look out for in the coming couple of years.