Property investors turning away from London can consider Sydney as a viable alternative. (Photo: Crown Group)
In the uncertainty following Brexit, Sydney has reinforced its status as a property investment hotspot, particularly among Asian investors and buyers.
Julian Sedgwick, Global Head of Sales and Marketing at Australian property firm Crown Group, says: “Buyers are nervous about the UK market and looking at alternative markets like Sydney, which has very good growth potential over the next three to five years.”
While growth in the city’s property market has slowed down a little recently, it remains steady, with demand outstripping supply. Sydney is one of the top places for Asian investors to send their children for education. Still, according to Sedgwick, “there is a shortage of housing in Sydney but plenty of demand, with more and more people moving into the city”, which is “a big factor in pushing the market upwards”.
For Singaporean investors considering entering the Sydney market, Sedgwick advises them to take into account the convenience of location as well as the opportunity for growth: ideally, their properties of choice should be situated walking distance from eateries, grocery stores and lifestyle amenities.
He recommends Parramatta, deemed “Sydney’s second CBD”, where Crown Group has built V, a luxury apartment project. Rental yields in the area can be as high as four percent, and offers the same level of convenience residents of Singapore have grown accustomed to here.
Crown Group, which is active in property development, investment and management, has several prime residential projects in Sydney, with a hotel development arm in the works.
Julian Sedgwick will be conducting a seminar on property investment in Sydney at Regent Hotel Singapore on Saturday, 9 July. Crown Group’s prime properties will also be exhibited at the venue between 11am and 6pm.
Cheryl Marie Tay, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories, email cheryl@propertyguru.com.sg
