The real estate market in Australia is on the up and in
particular the stunning city of Sydney.
Sydney is the largest financial and corporate center in
Australia.The city is home to more than half of Australia's
top corporations as well as five hundred multinational
corporations. There are also ninety bank headquarters
located in Sydney. The tourism industry is a large part of
the city and there are approximately 2.5 million tourists
annually. Attractions such as 'walking' the Sydney Harbour
Bridge are booked up months in advance. The city is buzzing
with activity and a visit will reveal that the high rise
office blocks are full of big business.
Property in Sydney is a valued commodity, as they have the
highest median house price of any Australian city.
International property investors would be able to compare
the cost in housing to that of California in the United
States. Australia also has the Western World's highest
property prices when measured against rental prices.
The value of Sydney property market has traditionally
doubled in value every 7-10 years over the last 100 years.
Sydney's current median price for houses is now over
$565,000 and leading economic forecasters BIS Shrapnel and
Residex predict house prices will continue to rise over the
long term.
The city is rich in arts and entertainment and many of the
visitors and citizens of the city are interested or
involved in this area in some way. Fox Studios Australia
opened in 1998 and many famous movies have been produced
here including Moulin Rouge, Star Wars Episodes II and III,
Superman Returns, and The Matrix. Sydney's Opera House is
capable of hosting various styles of opera in its five
theaters. The opera house is home to Opera Australia,
which is the third busiest opera company in the world.
These attractions draw a large number of aspiring actors
and actresses as well as tourists. Those looking to invest
in oversea property would be keen to invest in property
that can be rented out to those in these areas.
Sydney also hosts numerous sporting events.Sydney Harbour
has been used for recreational yachting as well Dragon Boat
racing. The harbour is also famous for the Sydney to
Hobart Yacht Race. The headquarters of the Australian
Rugby League is also located in Sydney and the National
Rugby League Grand Final is held in Telstra Stadium.
Famous beaches in the area include Bondi Beach, Manly
Beach, Palm Beach and Cronulla Beach.
The property along these beaches is some of the best real
estate in the city. Suburbs such as Manly or Mosman are in
high demand. Australia offers investment property in the
form city apartments that are easily let to city workers.
My advice is to seek out a reliable Australian real estate
agent after all Sydney property is an Australian thing
----------------------------------------------------
Nicholas Marr is the CEO of Marr International Ltd a UK
based property marketing company that is responsible for
the overseas property web site at
http://www.homesgofast.com/Australia/index.php
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