Overseas buyers lured to Territory
THE Darwin housing market is booming but it isn’t just locals or southerners buying up the Top End.
Inquiries for Darwin real estate from international buyers have increased three-fold in the last two months.
Raine & Home Daiwio general manager Glenn Geantham said Darwin was back on the international buyer’s map for several reasons.
“Asian property buyers are more familiar with our tropical climate than many Australians who move here from thechilli er southern states,” he said.
“Darwin has been touted as the gateway to Asia for many years as we are within a few hours by air from many global cities in Asia.”
International buyer inquiries have been most commonly received from global cities such as Singapore, Hong Kong, Taipei, and mainland China.
Real Estate Institute of Northern Territory chief executive Quentin Kilian said there were numerous expats living overseas most likely looking to come home to Australia.
“There’s a real opportunity for us to capture that market and say ‘why move back down south when you can set up a home in Darwin?’,” Mr Kilian said.
Factors such as climate familiarity, time zones and proximity)’ to Asia are attracting international buyers to Darwin.
Mr Grantham said the WA government’s tough restrictions around Covid-19 may also be a reason for the spike in international interest.
“Western Australia’s management of Covid-19 is turning away global buyers, which is playing into Darwin’s hands,” he said.
Raine & Horne residential sales consultant Peter Gowers said despite the two recent lockdowns, international buyers were eyeing a move to Darwin to avoid Covid-19.
“The general consensus is that Darwin has a free and open lifestyle that people feel safe from Covid-19,” he said.
“You go back to big cities these days and people seem so unhappy. Darwin has an easy lifestyle and nice weather all year.”
Article: Nothern Territory News