A weaker Australian dollar is helping draw overseas buyers back into the nation’s real estate market, with agents in Sydney and Melbourne reporting renewed interest from offshore investors.

While foreign investment rules remain strict — requiring approval from the Foreign Investment Review Board (FIRB) and limiting buyers largely to new properties — industry insiders say the currency shift has made Australian property comparatively more affordable to cashed-up international buyers.

Prestige agent reports suggest that Chinese, Singaporean and Hong Kong investors are showing fresh interest in luxury apartments and trophy homes. Commercial buyers are also eyeing CBD office assets, particularly distressed sales offering discounts compared with pre-pandemic valuations.

Property economist Sarah Liu said the dollar’s weakness made Australia attractive for international capital.
“When the Australian dollar is at or below US65 cents, it can effectively make property here 20 to 30 per cent cheaper for offshore buyers compared to recent years,” she explained.

While the numbers remain far below the pre-2017 peak, when Chinese buyers dominated inner-city off-the-plan sales, the trend could provide a modest boost to segments of the market where demand has cooled.