That's right. Some key risks I see with these sorts of investments are: - it is not a mainstream market (while Asians are by and large very rich due to sheer population, when in Australia that is still not a mainstream market --> it's like saying no Chinese food chain will ever get as big as Boost Juice in Australia simply because it's not mainstream. Simple) - the way the currency is, it works against this sort of market at the moment - there's minimal demand from PPOR/first home owners and a lot of people are investors (not to mention a very narrow market of investors). If you need a 5% yield, the next buyer needs a 5% yield too At the end of the day, these concerns can be easily mitigated if supply is kept below demand. But from all accounts, that certainly doesn't seem to be the case. That's why you need to select quality apartments that people aren't building - now that's where demand exceeds supply.