Breaking down barriers for overseas investors
It's not secret that Chinese property investment in Australia is thriving. Recent documents from the Department of Foreign Affairs and Trade show that the amount spent in Australia for investment by the Chinese totals just under $32 billion, and you can be sure that land and property forms a significant part of this.
However, for foreign investment in the Lucky Country there are some restrictions. Let's take a look how a buyers agent can help overseas purchasers secure an excellent property.
Getting the right profits
Recently, tax advisory firm KPMG has taken a close look at foreign investment into Australia - namely, the reasons for the strong Chinese investment here. They found that the main reason for this level of spending on real estate here was mostly, as you would expect, for profitability. And when you look at the value growth in places like Sydney over the last year, it's not surprising that we're a target for profitable purchases.
But buying into a foreign market can make it difficult to determine the most appropriate piece of real estate for investment, especially if you don't know the market fluctuations. As Australia's most awarded buyers agents, it is our job to know these details. We can aid foreign buyers and help them navigate the market, allowing some extremely profitable investing to take place.
Getting the right information
The KPMG report also identified a lack of information about Australia as a deterrent for potential Chinese investors. Sometimes, it's more a case of who you know than what you know - and if you get to know a buyers agent, you'll be well-set to make the right purchase.
Knowing where good infrastructure is coming in, the traffic flows, even the shopping areas that will attract the right kind of tenant are crucial to picking a good investment property. If you're unfamiliar with the local landscape, this can be difficult to ascertain. Fortunately, Property Buyer is well-versed in which homes suit which renters, and how to find them.
Getting the right land
When you purchase real estate as a foreign investor, there are only certain types you can acquire, short of getting a Significant Investor Visa. The Foreign Investment Review board states that someone without a visa wanting residential property can only buy vacant land for development, or a brand new building - second-hand houses are generally off-limits.
To find the right type of Australian property investment in this situation, including property not even listed on the market, it's vital to engage the services of a qualified buyers agent to make the right decision.