{"id":43047,"date":"2023-05-30T08:43:34","date_gmt":"2023-05-29T20:43:34","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=43047"},"modified":"2023-05-30T08:43:34","modified_gmt":"2023-05-29T20:43:34","slug":"surprise-nation-snapping-up-aussie-property","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/surprise-nation-snapping-up-aussie-property\/","title":{"rendered":"Surprise nation snapping up Aussie property"},"content":{"rendered":"

PHOTO: THE RISE OF THE RICH INDIAN BUYER IN AUSTRALIA: LINKEDIN<\/strong><\/p>\n

Foreign property buyers are on the rise in Australia, with a new report revealing which nations are dominating the country\u2019s real estate scene.<\/p>\n

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New data has revealed the top seven countries vying for Australia\u2019s affluent property market, with international homeowners from one continent unexpectedly taking out the top spot.<\/p>\n<\/div>\n

When it comes to foreign buyers investing in the private real estate sector Down Under, commonly Chinese, Indian and Singaporean investors come to mind.<\/p>\n

In fact, several polls conducted in the past highlight that Australians believe the Government is \u201callowing too much investment\u00a0from China\u201d, and buyers with an Asian background are\u00a0driving up property prices.<\/p>\n

However, research collated by global property insight platform Knight Frank has revealed that while investors from China and Singapore form part of Australia\u2019s foreign buyers market, the country with the largest number of homebuyers purchasing Australian properties priced over $US2 million ($A3 million) is in a different continent altogether.<\/p>\n

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\"Chinese<\/div>\n

Chinese buyers aren\u2019t the only foreign investors in Australia\u2019s property market, with European investors dominating the sector. Picture: Julian Andrews<\/strong><\/em><\/div>\n

According to\u00a0The Wealth Report 2023<\/i>, the UK has the highest number of residents who own a multimillion dollar property in Australia, followed by the US.<\/p>\n

While the report doesn\u2019t specify the exact number of residents who have invested in the Australian property market from these two countries, market data from realestate.com.au shows search interest for Australian properties on its site has increased by 30 per cent collectively.<\/p>\n

Nadine Goldfoot, managing partner at immigration legal group Fragomen in the UK, told Knight Frank the Covid-19 pandemic was a leading factor for Europeans who decided to relocate to Australia.<\/p>\n

\u201cThe number of people who were suddenly able to do their existing work in a new country expanded rapidly,\u201d she said.<\/p>\n

\u201cThe \u2018digital nomad\u2019 boom has brought many more people into the ambit of global mobility \u2013 and countries have responded by finding new ways to attract them.\u201d<\/p>\n

Knight Frank\u2019s Alasdair Pritchard also said that volatility and unpredictability in the UK and Europe\u2019s property market drove people there to invest overseas.<\/p>\n

\u201cWealthy individuals living in unstable regions have always sought a \u2018Plan B\u2019 \u2013 homes in the US, Australia or Europe that can enable the transition to a new life if needed,\u201d he said.<\/p>\n

\u201cBut rising geopolitical turmoil has drawn more buyers off the fence, and we expect that to continue through 2023.\u201d<\/p>\n

According to PropTrack\u2019s 2022 Overseas Search Report wrap up, Melbourne was the most sought after spot for UK buyers, followed by Sydney, Perth and the Gold Coast.<\/p>\n

There was also particular interest in Queensland\u2019s greater Brisbane region, which consists of the entire coastal plain and includes the local government areas of Brisbane City, Ipswich, Logan City, Moreton Bay and Redland City.<\/p>\n

\"Margot<\/a><\/div>\n
\n
\n

Inside Margot Robbie\u2019s Byron Bay \u2018dream home\u2019 | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

While not all these are multimillion-dollar properties, it shows less wealthy Europeans are considering relocating to Australia.<\/p>\n

The results are almost identical for investors coming to Australia from the US, with Sydney taking out the top spot followed by Melbourne, Gold Coast, greater Brisbane and Perth.<\/p>\n

The PropTrack data also revealed a large interest in the rental market from Europeans, with searches for rental properties incurring a year-on-year increase of 34.2 per cent.<\/p>\n

Across the globe, a large portion of foreign buyers purchasing properties valued over $US2 million ($A3 million) in the Switzerland, Spain, Portugal, Italy and South Africa markets were from the UK.<\/p>\n

\"NSW<\/a><\/div>\n
\n
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90 per cent of NSW teachers can\u2019t afford to live where they teach<\/a><\/h2>\n<\/header>\n<\/div>\n

Meanwhile Australia\u2019s foreign buyer market is also composed of residents from Spain, Canada and Hong Kong, with these three nations rounding out the Knight Frank\u2019s buying patterns list for Australia.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

\"The<\/a><\/div>\n
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AREC 2023 \u2013 Day 1<\/a><\/h2>\n<\/header>\n<\/div>\n
\"Caitlyn<\/a><\/div>\n
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AREC 2023 \u2013 Day 2<\/a><\/h2>\n<\/header>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

PHOTO: THE RISE OF THE RICH INDIAN BUYER IN AUSTRALIA:Read More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":43048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478106108,478098754,478098726,478098562,478102399,478125292,478125293,478098873,478098579,478098510,478098509,478125395],"class_list":["entry","author-data123nz","post-43047","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-aussie-property","tag-chinese","tag-chinese-buyers","tag-foreign-buyers","tag-foreign-investors","tag-indian-property-buyers","tag-indian-property-investors","tag-property-investment","tag-property-market","tag-property-news","tag-real-estate-news","tag-singaporean-investors"],"yoast_head":"\nSurprise nation snapping up Aussie property - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/surprise-nation-snapping-up-aussie-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Surprise nation snapping up Aussie property - 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