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Australia Welcomes Foreign Investors into it's real estate markets!
Foreign Investors can Buy Australian Property, But There Are Some Rules to FollowAustralia welcomes foreign property buyers, but like most countries has some rules that need to be followed.There are many reasons a foreign buyer may want to buy a residential property in Australia: for steady rental income and a sound investment; for accomodation during childrens education; for a future home; to take advantage of favourable exchange rates; to diversify risk into a safe haven and for holiday use amongst others. The following guidelines indicate the type of property foreign buyers may purchase. Foreign Buyers May Purchase: - Brand New Under Construction Property
- "OFF-THE-PLAN" Apartments, Flats, Townhouses, Condos, Units
- New Property not Previously Occupied
- Residential Land, Providing a Home is Built Within 12 Months
- New Homes
THERE ARE NO RESTRICTIONS AS TO THE NUMBER, OR TOTAL DOLLAR VALUE, AN INDIVIDUAL OR CORPORATION MAY PURCHASE IN THE ABOVE CATEGORIES. However, no development may sell more than 50 percent of the total to foreign interests. This has the benefit of protecting all buyers, as it means that ALL residential projects MUST SELL AT LEAST 50 PER CENT OF THE APARTMENTS TO AUSTRALIAN RESIDENTS. Projects can not be sold out only to overseas buyers, which means any project has to be popular in Australia to succeed. Foreign buyers can not buy , generally, in Australia old properties. Upon resale, properties therefore can not be resold to another foreign buyer. Thousands of resales take place each and every week in Australia, so a well selected property can be resold easily in the local market. Historical capital growth in the major Australian cities has averaged between 5-10% per annum each year, with rental income usually between 5-7% of the price. Rental occupancy rates are traditionally over 95%, and most properties are Freehold. Click Here for Properties for Sale That Qualify for Sale to Foreign Investors.
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