BUSINESS INVESTMENT

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Real estate in Australia

The Property market in Australia
Australians have a very strong tradition to buy a property as soon as they are employed; they feel this is the most secure value and a long term investment. Nearly 70% Australians are home owners! Consequently the market is dynamic and since 2000 it has experienced spectacular growth in the main Australian cities, especially in Sydney and Melbourne, due to vast empty lands in the city centres and warehouses in the ports, all of them transformed into luxury apartments; an extraordinary boom that made happy millionaires. This movement has slowed down in the last 3 years except in Perth, where the property market has been exploding for the last 2 years!
This generates high confidence among urban Australians (17% in 2005) to invest in real estate without living in it and renting it out.

Buying a property
Buying a property or a land in Australia is complex, knowing that each state has its own particular rules. You have to be aware that certain states will forbid you buying a property if you are not an Australian resident. It is well known that Queensland is the state that encourages foreign investment in the property market. But being a home owner in Australia does not guarantee you permanent residency in Australia.

You will be subject to a Stamp duty (an Australian government tax) on the total amount of the property value.

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