Sydney has been ranked as the fourth most popular investment destination in the world.
The Australian state capital came behind London, Paris and New York in the CB Richard Ellis (CBRE) survey, the Australian newspaper reports.
Over the past 18 months, Sydney attracted four per cent of all cross-regional transactions, compared to London, which pulled in 27 per cent.
"Perhaps against expectations, the high and rising Australian dollar doesn't appear to be reducing foreign interest," noted Richard Butler, CBRE senior managing director in Australia.
He went on to say that the country has a rare combination of stability and transparency, as well as a strong economic outlook.
The majority of overseas buyers of Australian property were from Asia, but Europeans were also active.
Last week, John McGrath of McGrath Estate Agents wrote in his blog that confidence in the Australian property market was spreading from Sydney to its surrounding regions.
Posted by Ravin Chatlani
