Categorized | International

Sydney Real Estate Market Booming

Please Share!

Although Australia’s residential and commercial real estate markets are currently threatened by the likelihood of a major crisis, there are certain areas of the country that are performing far better than ever expected.

The nation’s Olympic Park continues to defy expectations, as it boasts an incredibly low vacancy rate. When Olympic Park was first built, many thought that it would sit unoccupied once the Olympic festivities were finished. However, the Park continues to perform well beyond expectations. While the rest of Sydney, and the rest of the country struggle to fill vacant properties, Olympic Park has very little commercial and residential space left.

One reason for the booming performance of the real estate market in Olympic Park is that the nation has consistently worked towards developing the park to adapt to its growth. As a result, the Park serves as the home to over one hundred businesses that employ twelve thousand people. The area is expected to grow even more substantially over the next two decades.

Despite the growth in the area, rent prices in Olympic Park have not yet increased at the rate that one might expect given the demand to do business and live in the area. However, even with limited growth in rent prices, the performance of the real estate market in Olympic Park is very much welcomed by the nation.

Recent reports have indicate that Australia’s real estate market is in complete disarray, and is not expected to show any kind of improvement in the near future. While the performance of Olympic Park’s real estate market is certainly a positive element of the market, analysts do not believe that it will influence the market’s performance in the rest of the country.

Please Share!

About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

Leave a Reply

Twitter Chat