Mansion Global
Expats Keeping Sydney’s Real Estate Market Humming
While the Covid-19 pandemic has kept foreign investors from buying in Australia, former residents are returning to purchase homes in droves
By Kirsten Craze
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Sydney has seen an increase in expats seeking new homes in the city amid the coronavirus pandemic.
Pixabay
Sydney has seen an increase in expats seeking new homes in the city amid the coronavirus pandemic.
Pixabay
Closed borders have done little to dampen the demand
for luxury property in Sydney as expats have stepped in where foreign buyers
left off prior to the pandemic.
A steady stream of off-shore purchasers had been snapping up Sydney’s mega mansions in the 2010s, but after the federal government tightened buying restrictions for non-Australian residents in 2018-19, their numbers had been declining.