you've read it from the news regularly saying something like:
I mean, who could afford them seriously? Have we got into a stage where we can only sell to overseas buyers but not locals?
Unfortunately many have to leave their peaceful suburbia at 7:30AM in the morning every day, traveling an hour into that messy CBD for work, and another hour back :(
Most apartments which are being developed at the moment are being funded by foreign Asian investors. With that being said, we have quite a silly law in my opinion which is, If a foreigner invests 5 million dollars into australian realestate, they are given citizenship to our country. That's why apartments are selling so quickly.
As a builders apprentice, you hear a lot of this discussion onsite with large builders!
Drug dealers can afford them. Not intended for us working class folks.
Easy to blame overseas people all the time. Maybe its just rich Australians?
Kel Fitzalan, 44, of Lavender Bay, a partner at PriceWaterhouse Coopers, was so excited about Darling Square he bought two apartments - a one-bedder with a study on the 24th floor for $1 million and a two-bedder on level 26 for $1.6 million.
http://smh.domain.com.au/real-estate-news/darling-square-sel…
Real question is how many of those buyers would read these forums?
You're right - this forum for cheapskates like me, definitely not for high flyers!
couple of DINK's on 100k each could get a loan for 850k, 150k in savings. It happens.
Well, now they have a 1 bedroom unit. Not exactly brilliant on a combined income of $200k
As someone who has been looking for years now…
Its old people looking for investment property, due to low/zero tax incentives that are doing all the buying.
Stats back it up.
The Chinese are what 5-8%? Same as the yanks and Canadians.
I've seen Asian's win auctions, they're clearly Australia's most often young couples
cashed up expats from australia
overseas buyers can afford. let them live in mess and crowded city, locals live peacefully outside