{"id":30010,"date":"2021-01-11T08:02:29","date_gmt":"2021-01-10T19:02:29","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=30010"},"modified":"2021-01-11T08:02:29","modified_gmt":"2021-01-10T19:02:29","slug":"stranded-australian-expats-splash-cash-on-properties-sight-unseen","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/stranded-australian-expats-splash-cash-on-properties-sight-unseen\/","title":{"rendered":"Stranded Australian expats splash cash on properties sight unseen"},"content":{"rendered":"

PHOTO: Stranded expats are enquiring about luxury property despite not being able to view it in person.\u00a0Photo:\u00a0Kay & Burton<\/span><\/strong><\/p>\n

Expats desperately seeking to return home to Australia are forking out millions of dollars on luxury property sight unseen,\u00a0enlisting the help of family or turning to virtual inspections.<\/p>\n

Usually over the Christmas period, when wealthy professionals based overseas come home to visit family, those planning a permanent return later take the opportunity to inspect a string of top-end properties for sale.<\/p>\n

But the global pandemic and subsequent border restrictions have disrupted the expat real estate market \u2013 though it\u2019s not from a lack of demand, even as\u00a0border restrictions leave many Aussies abroad in limbo.<\/p>\n

\u201cThere does seem to be very strong interest in getting back to Australia,\u201d Sydney Sotheby\u2019s International Realty\u2019s\u00a0Daphne Sauvage.<\/p>\n

\u201cThese are people who have gone off for fabulous jobs thinking they\u2019ve made it, and then find themselves in an environment that from a health or political point of view is not ideal.\u201d<\/p>\n

Even without the certainty of a ticket back into the country, expats are spending millions of dollars on prestige property in Sydney and Melbourne\u2019s most exclusive neighbourhoods, or looking further afield.<\/p>\n

\u201cThe issue for them is \u2013 number one \u2013 secure the home, then make sure it\u2019s producing income, and then work out how they can exit the situation they are in,\u201d Ms Sauvage said.<\/p>\n

READ MORE VIA DOMAIN<\/a><\/p>\n

MOST POPULAR<\/span><\/h3>\n