Property in Australia has for some time been a dream for many people; dreaming of a life on a sun kissed beach and patrolling the outback, but of course there are many other things to consider.
Will the property appreciate? is always a major consideration. Over time property always has but it always pays to closely study the market and conditions of the time and place. One of the main advantages of the Australian property market is high rental returns and this is set to improve as demand is already greater than availability, plus more and
more young people are moving into the cities from rural Australia as the lure of high tech jobs tempt them to the cities. Off plan property is also available and often an option with a good profit margin, but again you must obtain a licence from the FIRB, this is generally a formality which can be
resolved in a couple of months providing you have all your papers in order. Another item worth mentioning and this applies everywhere, but particularly in certain areas of Australia is how green is the property?. How energy and water efficient is it?
This is certain to become more important over the next few years as energy and water become more expensive and green taxes are levied by governments. I expect the Australian government to be at the forefront of this type of initiative. Getting a visa to live in Australia is not easy and you need permission as a foreigner to invest in real estate, however once that is done the processes for buying property in Australia are relatively straight forward. The economy in the circumstances is good with low unemployment and certain sectors, especially mining doing well. The healthy outdoors lifestyle is another thing people often cite as the reason for moving to Australia.
In the buy to let sectors, student accommodation should also be considered with an ever increasing amount of young people flocking to the big universities in the cities. However, whether it is students, workers or families one thing you should ensure is that your letting agent is a good responsible one.