Sydney’s Bondi Junction property market is on the rise, with local and overseas buyers driving up demand for luxury apartments.
Luxury apartments in Bondi Junction have been selling fast and generating a huge level of enquiry, according to CBRE.
Barry Goldman, co-principal of Raine&Horne Double Bay said the “red-hot apartment action” was being driven by ‘The Junction’s’ retail appeal and proximity to beaches.
“Bondi Junction is the CBD of the eastern suburbs and is rapidly changing and, as a consequence, the new and off-the-plan apartment market is booming with almost four times as many bidders at auctions for apartments compared to this time last year,” he said.
Raine&Horne Double Bay’s Martin Maskin said this area of Sydney was increasingly popular with Asian buyers.
“Many cashed-up Asia-based buyers identify Bondi Junction as an inner-city suburb where they can find excellent shopping, transport and schools, and as a result have become big players in the suburb’s luxury apartment market,” he said.