Insiders predict Sydney house prices could double by 2020

AUSTRALIA: The luxury property industry in Western Australia, Queensland and the Northern Territory is reportedly showing signs of recovery. Industry reports predict that house prices in Sydney could double by 2020.

Michael Pallier, Managing Director of Sydney Sotheby0s International Realty told The Telegraph that Australia is popular with foreign investors, “due to the stable economy, strong capital growth performance and, of course, the lifestyle. The introduction of the substantial investment visa will also be a huge winner for future investors.” Last year the Australian government lowered the bar for bar for visa applications in exchange for investment in the country.

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