How do we help overseas buyers?
October 16, 2014 / Written by Rich Harvey
Whether you're an expat thinking of returning home or someone interested in buying Australian property for the first time, there is a wide market for overseas parties buying into local real estate. A recent National Australia Bank (NAB) index showed foreign investment accounted for 16.8 per cent of all property purchases in the country, and this is expected to rise.
However, buying property from overseas can be a daunting prospect - keeping up with market trends is hard enough, let alone being able to gauge whether or not a property is suitable. This is where a buyers' agent can step in and act on your behalf, making a purchase from overseas simple.
Seeking the right neighbourhood
If you're coming back to Australia after a long period away and want to purchase a home in advance, it can be difficult working out the best property from the other side of the world. When you sign an agreement with a buyers' agent, you're engaging the services of someone with extensive knowledge of local areas - where the best schools are, the quality of public transports links, and much more.
Whether you are moving back with a family or on your own, buyers' agents work with your exact specifications and work fairly and diligently in your best interests, as stated in NSW Fair Trading laws. So you don't just get the best ear-to-the-ground knowledge finding you a home to move back to - you get a fair and effective representation in the market without having to be there.
Finding grounds for investment
If you're interested in purchasing an investment property in Australia, you are not alone. With the NAB recording a big spike in foreign investment in new properties, it can be difficult working out the best areas to invest in. This is further compounded when you consider recent RP Data statistics showing the huge concentration of unit acquisitions in CBD areas.
However, that doesn't mean you will not find an excellent investment property. A buyer agent's knowledge of the market and upcoming projects means they can identify future growth areas, and they also have access to properties that haven't been listed on the market yet. This offers you insider tips and early access to property in hot growth areas, boosting you chances of good returns significantly.
The Australian Bureau of Statistics also says Australia is going through a very strong period of home construction, which means there will be a wide variety of property for a buyers' agent to seek out to suit your interests.