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R>Asian property investors are continuing to regard the Sydney property market as a safe haven for their cash with the Chinese in particular looking to buy new apartments, it is claimed.
Although the decline in Sydney property prices recorded in 2011 and early 2012 have largely stabilised, demand for new apartments remains relatively robust, albeit predominately in specific price brackets, according to a research report from Knight Frank.
Most of the demand is concentrated in the AU$450,000 to AU$650,000 range for first home buyers and AU$650,000 to AU$850,000 for upgraders with significant demand stemming from Asian purchasers.
This article is copyrighted by Property Wire - Premier global property news service
