Darwin housing market attracts three-fold increase in inquiries from international buyers

The Darwin real estate market is booming thanks to growing international investment, and there’s one region from which buyers are showing more interest than any other

Darwin real estate is being snapped up by international buyers.

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 has increased three-fold in the last two months.

Raine & Horne Darwin general manager Glenn Grantham said Darwin was back on the international buyers’ maps 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 Insitute of Northern Territory chief executive Quentin Kilian said it was likely there were many expats living overseas looking to come home.

“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.

The Kube apartments located on the corner of Edmunds and Cavenagh street in the Darwin CBD. Picture: Justin Kennedy

Climate familiarity, time zones and proximity to Asia are other factors thought to be 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 Darwin residential sales consultant Peter Gowers said despite the two recent lockdowns, international buyers are moving here 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.”