For many people, finding a property in Australia is seen as a life-long dream and not a business proposition.
However, the Australian property market is likely to see steady growth in the coming years and has good potential for investment, Propertyshowrooms.com has said.
Because the country is not tied to American or European markets, Australia has not experienced the same problems as many other nations, according to Terry Hobbs, media manager at the company.
"A personal favourite of mine is Australia – I think it is just very strong. There is a good economic situation over there … I think they are just a little bit more stable," he said.
The Knight Frank and Citi Private Bank Wealth Report found that Monaco was the most expensive area for prime property in the fourth quarter of 2009, followed by London, Paris, Rome, Hong Kong, Geneva, Moscow, Sydney, Tokyo and Manhattan.
In related news, a new hypersonic aeroplane is being tested in the Australian outback, which could slash flight times in the future.
