Property Investment Australia Guidleines

For expats as well as for foreign immigrants buying property in Australia is difficult. There are numerous complex rules to be followed and a lot of paperwork to be done. So buying a home in Australia can be a complicated process. When you combine this with the sheer distance involved, it can be a very daunting experience. If you are buying due to a lifestyle choice – such as emigration or retirement – then Australia, and its property market, has a lot to offer. Do be aware, though, that moving lock, stock and barrel to the other side of the world can come with its own problems. 

Generally mortgages are available on an 80 per cent loan-to-value basis, but there are plenty of different types to choose from if you which to offset you repayments against your savings or current bank accounts.

As in any country, property investment Australia is an expensive business – on average you should budget around five per cent of the purchase price to cover the red tape. This is broken down into a Land Transfer Registration fee, which varies from state to state; legal fees, mortgage application; local tax, which again varies from state to state; survey, etc.

Australian taxes also vary depending on which state you live in. However, if you spend more than six months in a year in Australia, you automatically become liable for income tax. Capital gains tax is payable on any property apart from your principle residence, but the amount you pay varies depending on your personal circumstances.

You will find the whole application process easier if you employ the services of a professional immigration consultant.  No matter what your reason for visiting Australia, you will need a visa to enter the country – the type will depend on your intentions while there. Visas are broken down into four main categories: residence, temporary residence, migration and visitor.   Temporary Residents tend to be made up of skilled migrants who are entitled to live in Australia for four years, usually after receiving sponsorship. 

Consider whether you prefer new-build over resale properties. The biggest advantage that new-build property offers is that you are less likely to need government permission to purchase it.     There is a far greater choice of resale homes for Australian expat, but the obvious disadvantage is the red tape. Once you have successfully navigated this however, you will be in a much better position to add value to your home, as new-builds always command a developer’s premium.

If you are considering buying in a city, then investment potential in Australia is very good.  You can take advantage of Aussie expats loan to get better return to your property investment.  One looming issue for Australian companies employing overseas workers is a concern about rising living costs; one quarter of all foreign nationals working in Australia felt there had been an increase in the costs of everyday items, healthcare and tax.

These problems and issues discussed above can be taken care of by taking help of some professional company which will give you full advice and guide you through the whole process.