Australia Welcomes Foreign Investors!
Foreign Investors Can Buy Australian Property, But There Are Some Rules To follow.
Australia welcomes foreign investors into its property markets, 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 accommodation 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 most common rules relating to the type of property that may be acquired by foreign nationals:
Foreign Buyers May Purchase: - Brand New, Under Construction Property
- "OFF-THE-PLAN" Apartments, Flats, Townhouses, Condos, Units
- New Property not ever occupied
- Residential Land, Providing a Home is Built or Commenced Within 12 Months
- New Homes
THERE ARE NO RESTRICTIONS AS TO THE NUMBER, OR TOTAL DOLLAR VALUE, AN INDIVIDUAL OR A 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 for any project to succeed, it has to be popular in the local Australian market. Foreign buyers can not buy, generally, old properties. Upon resale, properties therefore can not be resold to another foreign buyer. Thousands of re-sales take place each and every week throughout Australia, so a well selected property can be resold into the local market easily. Historical capital growth in the major Australian cities has averaged between 5-10% per annum, with rental income usually between 4.5%-8% of the price. Professional property management services are readily available, with management fees set at a very reasonable 6 to 8 per cent of the rental collected. Rental occupancy rates are traditionally over 95%, and most properties are Freehold. Foreign Investors can buy Citylife Projects! To see available properties
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