Foreign investors who purchased off-the-plan apartments when the Australian dollar was much stronger have actually made gains of up to 30 per cent, according to property investment company IP Global. 
The company, which takes positions on new apartment developments and then helps high-net-worth investors from Hong Kong, Singapore and the Middle East buy property, has seen dozens of its investors make paper gains on unhedged currency positions.
IP Global's senior investment manager, Elizabeth Chu, said that investors who had purchased apartments more than 18 months ago only paid a 10 per cent deposit and that by the time the apartment was built and the transaction was due to settle the buying power of the foreigner's currency had increased.
"Currency has been a strong consideration for buying apartments in Australia," Ms Chu said, "They buy with a 10 per cent deposit and then settle the other 90 per cent later when the local currency is cheaper."
While the Australian dollar has lost about 30 per cent in the last two years some experts still expect it to fall further with ANZ predicting it could slip below US60Â¢.
IP Global, which is on track to complete more than $500 million in property purchases this year, has been advising clients not just on the risks of property markets but also on interest rate and currency changes.
Ms Chu said the high-net-worth clients started to consider Australia after they had already purchased in the United States or United Kingdom and were looking at owning something in the low price range as well in order to diversify holdings.
"These people have been faced in their own countries with lower loan-to-value ratios and high stamp duty making them think 'where else should we invest?'," Ms Chu said.
She said many of her investors have already invested in apartments in Melbourne and Sydney and now had Brisbane as a major focus. The Gold Coast, however, is not yet a market IP Global is looking at.
"I am mindful of the Gold Coast as well but I generally like to stick to locations where there is a sustainable economy that doesn't fluctuate. Sydney is a tough market - the prices have gone nuts. We are still trying to get into [that market]. I still believe in the story."
In Brisbane, IP Global, which usually underwrites apartment projects by buying large amounts of apartments off the developer and then on selling them, likes areas such as Newstead and the inner east in suburbs such as Cannon Hill.