Why Australia Is A Good Investment Arena

Written by Alani Marani
Posted February 7, 2010 at 3:21 am

Australia boasts a nice warm climate and a relatively low cost of living and every year see’s more and more foreign investors investing in both commercial and residential properties throughout Australia. Australia has also been voted number one for surviving the global economic crisis.

All over sea buyers must first obtain permission from the Australian Government as the rules in Australia state that only permanent residents can purchase real estate. This is a straight forward process by the Foreign Investment Review Board (FIRB) but can take some time to process.

Generally purchasing costs are roughly 5% of the sale price, but can differ from state to state. Stamp duty, legal fees, taxes and mortgage applications (if applicable) are included in this 5%, however these costs may vary as to where your property is situated and the value of the property.

Again depending on what state you decide to invest in, the holding deposit required by a seller is normally 10% of the asking price. The balance is then payable upon signing of the sale contracts. Once you have put down a deposit to hold the property you are obligated by law to have insurance. This is generally a cover note and then full insurance upon completion.

There have been large amounts of appreciation on property prices throughout Australia and there are many ways in which to make money on the Australian property market. Both nationals and foreign investors have been seen investing in the commercial sector as more and more small businesses spring up all over the country.

Every year, more and more people, visit Australia so investing in real estate associated with the tourism industry is a sure fire way in which to make money. If you invest in the right property, in the right location (for example near coastal areas or major towns) then not only will you receive a healthy rental income but also see a good return on your investment.

A fairly substantial deposit will be required if you want t purchase real estate in major cities such as Canberra or the Gold Coast. Similar to other countries, properties in key cities always come with a higher price tag.

There are numerous investment opportunities throughout Australia, so whether you are investing or immigrating, Australia is a very good investment destination.

If you are thinking of investing in Australian real estate then it is important to locate the right real estate agent. Once you have decided on the area in which you want to invest then finding an agent who is local to the area is essential as their local knowledge can prove invaluable.

For the best in real estate in carindale, visit the professionals: Platinum Private Properties, the number one for real estate in Carindale