Visiting Australia as a tourist is one thing, but what if you were to take it all the way by investing in its real estate and moving there for good? As it so happens, there are several advantages to doing this, some of which we’ll share with you below.
1. Access to a strong real estate market
When making as substantial of an investment as investing in real estate, you want to make sure that nothing drastic will happen to it and that, at the very least, it will hold its value over time. Numerous real estate experts have said a gazillion times that investing in Australia’s housing market is a decision that yields consistent results over time. So not only is owning a home there going to be your ticket to enjoying the peaceful yet vibrant life that only Australia can give you, it also makes for a fine addition to your investment portfolio, much like gold has been for years.
2. Breathtaking views
Australia is known for its scenic views, and if you own a home at a good location, it’s what you’ll be able to wake up to every single morning. As for the exact location, that comes down to your preferences, so make sure to do your research. Owning a place in Sydney will give you city-esque vibes, while the one in the Gold Coast, for example, will be your ticket to enjoying a much more natural landscape.
Want to wake up to a view like this?
3. Tax advantages
Everybody knows that property taxes in certain parts of the US can take the joy out of home ownership. But in Australia, home ownership comes with a tax break that’s also known as negative gearing. This is a principle that takes many factors into account, including your home’s depreciation, property expenses, and property income. In case your property incurs a loss, in Australia, you are entitled to a tax break.
4. A welcoming market for foreign investors
Let’s face it – investing in a foreign real estate market can seem daunting for many reasons, including not knowing all the rules, pitfalls, and similar. The Australian real estate market experience is quite unlike what you would expect, and foreign investors often praise it for its transparency and clarity. The Foreign Investment Review Board is the entity that is in charge of the regulatory affairs that relate to foreign real estate investments. Do study up on its rules, but the good news is that, in general, Australia won’t make it too hard for you to proceed with your investment if you’re actually planning to live in the country.
There are plenty of reasons to go ahead with your property investment in Australia, and we’ve outlined some of the major ones. It’s always recommended to visit a few times as a tourist before committing to such a life-changing decision, but once you pull the trigger, you will never look back.