Luxury Real Estate Blog and News
Asian property developers are being draw to Australia’s second most populous city, Melbourne due to growing opportunities. Attractions in the cosmopolitan city include booming financial services, vibrant city life, population growth, good education facilities and housing shortages.
High net worth individuals from around the world have been competing to buy a piece of paradise in Australia at a bargain price. The lavish Orpheus island resort on the world famous Great Barrier Reef which has hosted celebrities such as singer Elton John and actress Vivien Leigh has been on sale for just AU$10 million, some five million less than it was bought for five years ago.
Situated in the stunning terrain of South Australia’s Great Ocean Road, three hours from Melbourne and nearby Cape Otway and the Twelve Apostles, this eco-sensitive resort includes two private retreats designed by Pritzker Prize-winning architect Glenn Murcutt.
Turtle Island, a small private island off the east coast of Queensland, Australia, is on the market for $5.6 million.The seller is an Australian developer, Marcia Christofidellis.
The Australian real estate market is benefitting from the collapse of the property market in Dubai as Chinese and Russians buyers move their allegiance down under. Property investors from both nations are now the biggest foreign buyers of residential property and especially favour Queensland’s Gold Coast, it is claimed. Last year, Chinese buyers finalised deals for $22.76 million of houses and apartments, while buyers from the Russian Federation signed for $22.7m of Gold Coast homes.