When the Sotheby’s International Realty® brand announced its expansion in August into Sydney with Sydney Sotheby’s International Realty, it entered the economic and financial heart of Australia. Sydney is known around the world for its spectacular beauty and relaxed cosmopolitan lifestyle. The city’s waterways are its premier attraction for worldwide property investors with stunning beaches and a magnificent harbor.
Rose Bay, Sydney, Australia
As the most populous city in Australia, Sydney is a key location for the Sotheby’s International Realty brand as it expands its reach throughout Asia Pacific. The office opening comes at a strategic time as Sydney has seen a significant increase in transactions of high-end real estate with investors from all over the world. According to Michael Pallier, managing director of Sydney Sotheby’s International Realty, the current uncertainty in global markets has provided an excellent opportunity for wealthy investors to take advantage of the long-term security of Sydney real estate.
Bellevue Hill, Sydney, Australia
“Demand for well-priced luxury property remains strong due to Sydney’s attractiveness as a safe haven in the Asia Pacific region” explained Pallier. “Australia is a very popular choice amongst overseas investors due to the stable economy, strong capital growth performance and of course the lifestyle upside. The introduction of the substantial investment visa will also be a huge winner for future investors and the Sydney property market alike.”
“With well-respected industry reporting agencies such as APM suggesting that Sydney house prices could double by 2020, and an under supply of property in the Sydney market driving strong rental demand, our city certainly offers an irrefutable financial draw card. For wealthy families seeking a sound real estate investment these indicators are hard to ignore,” Pallier said.
Vaucluse, Sydney, Australia
Sydney Sotheby’s International Realty aims to develop the brand throughout the region, with an emphasis on international buyers who are attracted to the harbour city, which is a celebrity hot spot in its own right. “With the iconic Sydney Harbour Bridge, Opera House as the focal point and golden sandy beaches such as Bondi and Manly the jewels in the crown – who can blame them?” Pallier said.
International buyers include the Chinese who are looking to capitalize on the harbour views, Russian families seeking luxury and Americans who like properties with an abundance of light and space. Other International buyers include the Europeans and the British who adore the laid back comfortable lifestyle. “We will leverage on our extensive clientele for the most exquisite of property, use the advanced technology available to us and build strong teams of experienced real estate agents to target both the domestic and international buyers with the Sotheby’s International Realty brand,” said Pallier.
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