Real estate prices may remain out of reach for many Australians, but Asian investors are snapping up developments they consider to be a bargain.
It's not only seen as a secure long-term asset, but an investment in family.
Asian investors and new migrants from the region are among the top buyers of new development properties across Australia's major cities.
Traditionally seen as a secure, long-term investments, families are taking advantage of what they see as relatively cheap real estate prices compared to those in other urban Asian centres.
Sydney-based property agent Tim Rees says investing in property especially makes sense for those who have children to studying here.
"There is a lot of talk about Australian property being overvalued but when you do look at property in places like Shanghai and Hong Kong. - it remains extremely expensive," said Rees.