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9. Sydney

$2,020 – $2,230 per sq. ft. ($21,700 - $24,000 per sq. m)

Average price change in 2012: 0.0%

Despite flat property prices in 2012, Sydney is considered to have one of the most resilient residential markets in Australia. The country is also perceived to have a strong economic future, lifestyle advantages and a strategic position in Asia-Pacific.

The government has taken measures to attract overseas investors. In particular, the Significant Investor Visa, geared towards the Chinese, grants you permanent resident status or citizenship if you place five million Australian dollars ($5.13 million) in "endorsed investments".

Experts forecast prime property prices in Sydney will increase in 2013.

Darryl Torckler | Stone | Getty Images