Considered Investing In The Australian Realty Market?
Nowadays, investing in property can be a risky business; however one place where your investment is relatively safe is in Australia.
Even throughout the recent global depression, the real estate market in Australia managed to stay fairly stable and both national and international investors were seen buying property for both re-sale and rental purposes.
So why did the Australian realty market survive the recession?
The main reason was down to Australian banks only lending money to people who could afford it. Strict rules were put in place to stop people over borrowing and Government schemes were also set up to help first time home buyers. Limiting the amount of repossessions meant that the realty market remained strong and in some areas property prices even saw a slight increase. When you compare this to both the UK and America where people were leant way over their budget and found themselves in negative equity it is no wonder why Australia makes a great place to invest.
An increase in the sale of run down properties has also been seen in recent months with both private investors and developers making the most of rock bottom prices. Some of these run down homes are only in need of a little TLC, meaning that owners can turn these properties round quickly and either re-sell them at a profit or rent them out either on a long term or short term basis. Properties further afield are also now far more popular since the Government upgraded the entire transport system making more outback regions a lot more accessible.
Whether you are an Australian national or overseas buyer, investing in Australian realty is fairly straight forward. Permission must be sought from the FIRB if you are an overseas buyer and once obtained the purchase process is much the same as back in the UK. A deposit of 10% is generally put down to secure the property. Once secured, papers will be drawn up and monies put in place ready for the sale. Checks will also be carried out on the property to ensure there are no outstanding debts and that all paperwork is in order and the property is fit to sell. Once this is done a date will be set for both parties to sign the contract of sale and for the buyer to hand the seller the balance of monies.
If you are an investor looking for a safe investment in realty then why not make your next investment destination Australia - you won't be disappointed!