Australia

Why Invest?

Australia offers many diverse living options and is a truly multicultural society. Based on historical trends in the property market and key economic indicators, the Australian property market is considered to be a sound investment opportunity.

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Market Report

We forecast that the property prices show the strongest growth in house prices over the next three years. Prices are expected to rise by 20.9% over the three years to June 2007.

Economic Overview

Australia continues to be recognised as one of the world's leading 'growth economies', with GDP averaging 3.8% over the last decade. It is one of the strongest OECD performers through its pursuit of extensive economic reform and ensuring its macroeconomic policies are set in an organised medium-term framework.

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Visa/Residency Issues

A visitor's visa is normally valid for three months, but people on business visits or undergoing medical treatment and the retired parents of an Australian citizen can obtain a visitor's visa valid for 12 months.

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Getting to Australia

An approximate flight time to Sydney from London is 20½ hours via Singapore or Bangkok.

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Fees & Taxes

• Most fees are calculated as a percentage of the value of the property you're buying, so the more expensive the property, the higher the fees. Even removal costs are higher if you have a large house (unless you have a lot of empty rooms). If you're buying and selling, you must consider the cost of both transactions.

Australia

Basic Information

Australia Overview

Australia is a country in the Southern Hemisphere comprising the mainland of the world's smallest continent and a number of islands in the Southern, Indian, and Pacific Oceans. The capital city is Canberra, located in the Australian Capital Territory. The current national population is around 20.6 million people, and is concentrated mainly in the large coastal cities of Sydney, Melbourne, Brisbane, Perth, and Adelaide.

Average Property Prices

Buying Process

• The ability of a foreign national to make the purchase of real estate in Australia requires governmental permission. Before a foreign national can commence seriously the pursuit of real estate to purchase in Australia, he or she must seek and obtain permission to purchase real estate from the Foreign Investment Review Board.
• When it comes to a foreign national investing in residential or commercial real estate in Australia, getting approval from the Foreign Investment Review Board really is the most cumbersome portion of the entire process.
• In Australia, this initial offer can be verbal or in writing. Once received by the seller, the seller will either accept or reject the offer that has been tendered.
• After the acceptance of the initial offer (or counteroffer), the buyer is obliged to make what is known as a holding deposit.
• Once the terms and conditions of the Contract for Sale fully are hammered out, the parties to the sale will sign the agreement.