Asian investors are increasingly looking to increase their exposure to the Australian real estate market
, with many hoping to benefit from "untapped growth" in the country, Property Report has claimed.
Buyers from China, Singapore and Malaysia are leading demand in large Australian cities, undeterred by property ownership restrictions, the news provider added.
Julian Sedgwick, senior associate director for international residential sales at real estate agency Savills, told Today Online that there were 800 enquiries over a recent weekend for two or three property launches in Sydney.
"We sold about 25 per cent of the units from one such property and as many as ten per cent to 15 per cent of the buyers are Asian," he said.
Meanwhile, policy makers in the country have looked to starve off the threat of asset bubbles by raising interest rates in the country to 4.75 per cent last month. However, analysts claim that even this will not be enough to ward off Asian buyers.
- Wednesday 05 January 2011