Home buyers desperate for property paying huge deposits just for a chance

Sydney homebuyers are clearly hungry for property with more than 1000 people coughing up a deposit just to get a viewing at a new development.

New buyers are so eager to buy at the Infinity development at Green Square, they’re willing to risk their money for a chance at snapping up their piece.

900 people have put down $5000 deposits just to be in the queue.

Units in the former industrial land turned into the Crown Group’s Infinity Building will go on sale tomorrow.

And Crown’s CEO Iwan Sunito felt it was going to break records in property sales.

“I believe we are going to break the record that we have done in the past, in selling $170 million in four hours in Sydney,” he said.

And it’s not the only estate that’s considered hot property at the moment.

A new estate at Moorebank will decide who moves in via lottery, with 500 people putting their entry in for one of the first 44 properties at Brighton Lakes, a new housing development on the Georges River.

Buyer Julie Gibbons didn’t seem to mind the nervous wait.

“It is very exciting,” she said.