Melbourne has always had a diverse buyer profile, with people from all over the world wanting a piece of Aussie land to call their own.
More recently, there has been an increased demand with Malaysian buyers who are seeking out great investment opportunities in Melbourne hot spots such as Southbank, Glen Waverley, Balwyn and Point Cook.
The appeal of these suburbs is mainly due to the fact that they are close by to highly esteemed schools and universities.
In terms of enquiry, this spike of interest has now put Malaysians ahead of Chinese buyers, with Realestate.com.au figures showing around 100 searches a day coming from Malaysia, looking for property in Melbourne; which is roughly 25% more than the searches coming from China. The figures also show a large difference in interest between Melbourne and Sydney, with Malaysian buyers being 4 times more likely to search for a Melbourne suburb.
Despite the changes to regulations and hikes in fees and stamp duty for foreign purchasers, the overseas interest is still strong and doesn’t look to be slowing down!