International buyers continue to account for almost two-thirds of surveyed sales in the second quarter to June, up slightly from the first quarter in 2016, according to leading property analyst Urbis.
Urbis Associate Director of Property Economics and Research Alex Stuart notes that “the survey included a higher proportion of developers with strong international channels.”
“Nevertheless, it highlights the continued demand from Asian buyers for Sydney apartments. Local owner-occupiers continue to account for less than 20 per cent,” he added.
Despite the tightening of lending regulations to international investors in the last six months, Sydney is still seen as an attractive location benefiting from infrastructure investment and position as a global city.