Expatriates from Southeast Asia, most notably from Singapore and Hong Kong, have been enquiring and buying property in the Australian town of Byron Bay, New South Wales.
Graham Dunn, Principal of Byron Bay Property Sales, told PropertyGuru: “With the weakening Australian dollar, all of a sudden there has been a surprising number of enquiries from expatriates living in Singapore and Hong Kong.”
Dunn added that the enquiries have been translating into sales, and that property buyers and investors from mainland Chinese are discovering Byron Bay for the first time.
“Their preferences are for beachfront property or small rural farms close to the town. We’re certainly seeing interesting times here, Dunn concluded, adding that he had never seen such interest from expatriates for more than 25 years.”
Citing two examples of properties attracting interest, Dunn noted a three-bedroom property designed by an architect on the market for AUD$2.75 million, and a four-bedroom absolute oceanfront villa with a price tag of AUD$3.5 million.
Main image: Shot at Byron.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
