With the return of international students to Sydney, many believe it will significantly boost the apartment market.
The absence of international students has impaired the real estate market since the Federal Government shut the international borders in March 2020.
Their absence directly affected landlords who had hoped to lease apartments to students and often to their families.
Juwai IQI Executive Chairman Georg Chimel shares;
“Universities have lost hundreds of millions, but Australian landlords have yielded an even larger share of foreign student rental income.
Our best estimate is that Australia will get back to 75 per cent of 2019’s resident international student population in 2022, but that getting back to 100 per cent will take until 2024 or 2025.”