We have come across a couple of redundant non-listed houses from our clients. The beauty of these is that prospective buyers can negotiate directly with the owners.
One of Sydney’s best and favourite expat locations on the north side of the harbour is Mosman. This property with views out towards Balmoral Beach has 5 bedrooms with a house on 665 m2 of land. Contact us for more details.
The Australian Federal Government through the FIRB ( Foreign Investment Review Board) has established policies that channel foreign investment in the housing sector into activity that directly increases the supply of new housing. This has been done to ensure that foreign investment in residential real estate is not speculative in nature and hence disruptive to the economy over the longer term. Bearing this in mind we have 3 tips for Foreign Investors not holding a permanent residency visa.
1/ Buying “Off the Plan” Dwellings
The FIRB will approve foreign investors buying new dwellings “off the plan” or after construction is completed provided the property has not been previously sold or occupied for more than 12 months. This type of property can be purchased in an individuals name and can be retained for the foreign investor’s own use, rented out or sold to Australian Interests.
Mirage or Oasis?
For many years touted as the next Bali, Lombok has remained pretty much unchanged. The island of Lombok is 4,725 square kilometres, part of the Lesser Sunda Islands and home to almost 3.5 million people. Increasingly holiday makers are growing weary of Bali’s crowds, traffic and beach braids and look to Lombok’s dramatic labyrinth of turquoise bays, white sand and world-class surf breaks as a superior destination to get in touch with their zen!. But things are changing rapidly in Lombok with an estimated $800 million of direct investment
set to transform this island paradise. We have seen the start of the Lombok “boom”.
Still on our way to 4.99%
Some months ago we flagged our expectation that home loan rates were on their way to 4.99%. Since then the Reserve Bank has delivered 3 cuts to the official cash rate and we now sit at 3%
. By the way this is the same level that the central bank moved rates to during the darkest day’s of the GFC. So where to from here?