Australia is the largest country in Oceania and the sixth largest country in the world. Known for its beautiful landscapes like the Great Barrier Reef, vibrant cultural scene including the Sydney Opera House, pleasant climate and reputable universities, Australia’s quality of life and unrivalled natural beauty make it an ideal destination to live in.
Immigration is the main driver of population growth in Australia, accounting for more than 60% of annual growth. Even though it is one of the least densely populated countries in the world, the population growth has resulted in a consistent under supply of housing in most capital cities.
With stable political, social and economic stability, investing in Australian property has become popular with overseas investors looking for strong returns and stability.
If you are looking to own a second house, retire here or simply invest, here are some of the places to consider buying a property.
Sydney, New South Wales
Sydney is the nation’s largest city and is renowned for its idyllic beaches, great walks and world-class dining. The bustling capital city of Sydney stands on the shores of Port Jackson at Australia’s oldest and most-populous state, New South Wales.
The infrastructure spending in Sydney has been quite massive in terms of new rail links, new motorways, new tunnels, hospitals, universities which had been the generator of economic activity and employment creation driving the real estate market.
As part of its heritage preservation, an old building standing in the former rough industrial wastelands of Sydney’s wharf area has been transformed to the city’s most celebrated, and expensive, new waterfront apartments.
The 103-year-old red-brick and bluestone Commonwealth stores building on Darling Island that became a Navy property, a centre for research and then the lair of government spies, would house 46 luxury apartments.
With prices from S$2.7 million, The Revy consists of two-, three-and four-bedroom apartments. Crowning the eight-storey building is a rooftop terrace that offers unobstructed views over the harbour.
One of Australia’s oldest and fastest-growing cities, Queensland is Australia’s second-largest state (in size) and is home to the world’s famous Great Barrier Reef, the world’s most extensive subtropical rainforest and the beautiful Queensland Islands. The capital of the state of Queensland, Brisbane enjoys a sun-soaked climate and is warmer than most Australian cities, making it perfect for outdoor activities and water sports.
Famed for its stunning surf beaches, it is also home to luxuriant rainforests, rolling hills and fertile farmlands. If you are looking to buy investment property in Australia, Brisbane has been dubbed the hottest place to do so. Apart from tourism, technology, mining and financial services are among its economic drivers.
The smallest of the mainland states in size, Victoria is home to the country’s second most populated city, Melbourne. Known as the cultural capital of Australia, Melbourne is a melting pot of cultures and is famed for its fashion-forward boutiques, booming cafe scene and street art, most of which can be found tucked away in a large number of iconic laneways.
Melbourne has a range of galleries and museums such as the National Gallery of Victoria and the Melbourne Museum, as well as world-renowned universities and research facilities. The Arts Centre Melbourne is Australia’s largest and busiest performing venues, and a flagship of the performing arts in Victoria.
Rising above an expansive 3,700 sqm park, the five-acres Melbourne Square is set to be one of the largest and most iconic mixed-use precincts in central Melbourne and includes an array of premium residential apartments and penthouses, retail, offices and a hotel.
Featuring six towers in total, ranging from 38 to 73 levels in height, one set of the striking residential towers will be situated above an eight-level retail podium which will include specialty stores, café and a 3,800 sq ft Woolsworth supermarket.
Prices start from S$700 thousand for a 2-bedroom apartment.