NT News

Overseas buyers lured to Territory

- FLOSS ADAMS

THE GENERAL CONSENSUS IS THAT DARWIN HAS A FREE AND OPEN LIFESTYLE THAT PEOPLE FEEL SAFE FROM COVID-19

PETER GOWERS

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 & Horne Darwin general manager Glenn Grantham 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 the chillier 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.”

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