PHOTO: The coronavirus and subsequent ban on non-citizens travelling to Australia from China has left prestige vendors short of foreign buyers. Photo: Janie Barrett
Sydney’s prestige housing market is expected to be one of the casualties of the coronavirus after the traditional influx of high-end shoppers from China are forced to stay home.
The short-term loss of visitors due to the federal government’s ban on non-Australian citizens travelling here from China and longer-term economic fallout from the contagion follows this summer’s disastrous bushfire season, which had already impacted on Australia’s standing as an international housing market .
The Lunar New Year is typically the busiest time of year for visitors from China, and agents on both sides of Sydney Harbour have long made the most of the annual holiday by timing the launch of their high-end listings accordingly.
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