Sydney, Melbourne, Brisbane – Australia’s major cities are among the most sought-after places to live in the world. Not only for locals. Immigrants, foreign investors and business people are also increasingly investing their money in Australian real estate.
Some because of the lifestyle, others because of the low mortgage rates. As a result, house prices in Australia’s metropolises have not risen, they have exploded. Anyone who wants to buy a home in Sydney has to fork out an average of one million Australian dollars, the equivalent of 680,000 euros.Continue reading “The sellout of the fifth continent”