Expats living abroad are buying up Australian properties, heartened by the nation’s low rate of Covid-19 cases and political stability, say real estate agents. International searches for buying property on realestate.com.au in July were up 22% compared to the same time in 2019.
Aussies based in the United Kingdom, Singapore, Hong Kong and the United States are leading the inquiries on beachside and hinterland real estate, mostly across the eastern states.
Gold Coast agent Katrina Walsh says she has been fielding numerous calls from expats looking for “anything ocean or green” on the Gold Coast.
Realestate.com.au chief economist Nerida Conisbee says there is strong anecdotal evidence many expats are re-evaluating their circumstances due to the pandemic – and the low Australian dollar and low interest rates provide an attractive value proposition.
The Gold and Sunshine Coasts are popular targets in Queensland while beachside suburbs of Sydney are also on the hit list. In Melbourne, the CBD and South Yarra are Melbourne’s most-searched suburbs by offshore buyers.