Oversea buyer welcome but a local buyer maybe not?

@Redwood What about the Sydney market, are they still interested or not anymore ?
look at this report done by NAB: http://business.nab.com.au/wp-conte...dential-Property-Survey-Q2-2015-Overview1.pdf

the overseas investor is now looking for existing property rather than the new ones.
This is just what SomerSoft and PropertyChat forum experts repeatedly advise me not to buy new Off the plan apartment or new House & Land package.

 

Hey mate- saw the NAB report.

Yes they are still interested in Sydney. I was in Sydney the weekend before last - for business and of course the Hawks were playing the swans.

Hell yeah - Sydney is still selling like hotcakes, but none of my sydney clients buy there. My wifes friend came from Shanghai, bought an apartment - completed, 3 brm and bought for 4m. Funnily enough she will be renting the other two rooms to others to pay her uni fees. Cash of course.....

Standard story, mummy and daddy pay for it. The demand will last another 12 months, at least, we reviewed the FIRB report - its on our blog on our website - planned spending is huge.

I saw the NAB report and thanks for posting I have a awesome chart but need to learn how to post it!

Cheers Ivan

 

Yes @Redwood that's the norm here for a rich overseas student in Sydney , at least she doesn't over crowd the place like the other incident few years back in Bankstown:

http://news.domain.com.au/domain/re...-edge-in-danger-highrises-20120929-26s6i.html

http://www.abc.net.au/news/2015-06-...ng-for-her-life-from-burning-building/6545564

Hopefully you'll find theNAB report useful for ya mate.