Australia's prestige property market continues to attract international buyers, with Melbourne as a key destination. In the 2022-23 financial year, foreign buyer activity across Australia rose by 27%, with 5,360 properties purchased for $4.9 billion. Victoria led with 2,240 transactions (Property Update, Knight Frank Australia).
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Global Draw for Elite Property Buyers
17 October 2024
Buyers from China, Hong Kong, and India are most active in Melbourne's market, attracted by the city's prestigious educational institutions, healthcare, capital growth, and stable investment environment.
International buyers typically seek properties in prime locations offering luxury living and lifestyle benefits. Many UK and US buyers are investing in high-end suburbs like Toorak, South Yarra, and Brighton - sought-after areas offering waterfront views, high-end shopping precincts, or CBD access.
As Marshall White Director William Chen says, “International buyers predominantly seek family residences as primary dwellings, favouring turnkey properties, high-quality renovations, or newly constructed homes. Overseas demand remains strong in Melbourne, reflecting continued market confidence.”
With foreign buyer activity increasing, Melbourne remains a leading destination for overseas investors seeking premium real estate opportunities in Australia.
Our multilingual team members are ready to assist you in navigating Melbourne's luxury property market. Contact us to explore your next investment opportunity.
Image Source: The First Light Project
