A huge number of Russians associate the phrase "real estate in Australia" with something fabulous and transcendental. And the point is not that many people simply cannot afford housing in this exotic country, but because of the considerable remoteness of the continent, where endless prairies harmoniously combine with crocodile and ostrich farms. However, the interest of Russian investors in housing on the continent is not only not dying away, but also increasing: for many, real estate in Australia is a profitable investment. What does the country attract them with? Let's consider this question in more detail.
Where is better?
Statistics show that our compatriots prefer to purchase housing in such major Australian cities as Sydney, Melbourne and Brisbane. The fact is that it is in them that the cultural and business life of the whole country is concentrated. Naturally, the cost per square meter in megacities is very high.
However, large cities are not all that investors are interested in. Not so few of our businessmen, looking at ads in the "real estate in Australia" category, ultimately choose apartments located in the immediate vicinity of the coast. In this regard, the resort town of Gold Coast wins and the preferences of domestic moneybags are on its side. Of course, those who have purchased real estate here can rely on solid dividends: tourists who come on vacation, renting a house, will pay by no means small money. Even if you purchase a bungalow off the coast for yourself, you will make a profitable investment: the sun and water will help to stay in great shape in terms of health.
But housing in the Australian capital of Russian entrepreneurs is not a priority. Canberra is a city with administrative functions, so houses and apartments are bought less often.
Thus, before purchasing property in Australia, it is necessary to analyze several points: the climatic conditions in the region, the degree of its remoteness from the coast, how intense business and cultural life is in it, and the price level.
What should be remembered?
However, one should not think that an apartment or house bought on a distant continent will automatically give the Russians a privileged position.
This is just a place where you can live or temporarily stay (if you rent the property). It must be remembered that if you bought real estate in Australia, the prices of which are far from affordable, this does not entail an automatic visa.
The country's authorities are positioning the deal on the sale of local real estate by a foreigner as a kind of investment project: it is assumed that the buyer becomes the owner of the property for the purpose of subsequent lease, but not for permanent residence in it.
At the same time, it is not necessary to fly across the ocean yourself in order to control the deal: everything will be done by a lawyer who will tell you the exact date when you can get legal documents. But all this, of course, is not without risk.
Experts recommend another option: first you need to apply for a visa, then come to Australia and get a document from the authorities that will allow the purchase of a house. The next step is to hire a lawyer to deal with the transaction.
Only after obtaining a certificate of ownership can you find tenants.
New housing
To be able to buy property in Australia, there is one condition for foreigners. You need to get a special document from the Foreign Investment Review Board (FIRB), which will indicate that the foreigner has the right to draw up a sales transaction. The above body is obliged to make a decision no later than 30 days from the date of application. As a rule, construction companies independently obtain permission to sell apartments to foreigners, but in Australia there is a legal norm according to which the share of foreign investment in a residential building being built is strictly limited: non-residents can only count on 50% of all apartments in a new building. The same rule applies to private sector facilities. If the developer has taken care of the permits for foreigners in advance, then the “overseas” buyer is freed from additional troubles, however, he must have a temporary visa in his hands.
Used housing
As for housing in the secondary market, this niche is carefully controlled by real estate agencies.
Moreover, their services, included in the price of the property sold, are paid by the seller. One way or another, but the secondary real estate in Australia for foreigners, the price of which is one and a half times cheaper than new buildings, is in great demand. But in this case, one cannot do without the permission of the authorities. Students of Australian universities are exempted from the obligation to receive a document from the FIRB, provided that they have a temporary visa for a period of more than 1 year. In addition, the used property for sale should be located near the university, and cost no more than 300 thousand Australian dollars.
Price range
Of course, for Russians, the first question is: “What is the cost of real estate in Australia”? It should be noted that the price range is quite large: it all depends on the individual preferences of the client and his financial capabilities. Private households are in great demand. The average cost of a villa with an area of 180 squares is approximately 450 - 500 Australian dollars. The most preferred cities for real estate investment have been and remain Brisbane, Sydney, Melbourne, Perth. Apartments in Sydney will cost 450 thousand Australian dollars, in Perth - 500 thousand dollars, and in Melbourne - 400 thousand dollars.
In Perth, apartments will cost the same half a million Australian dollars. Again, many Russians can not help but worry about whether there is cheap real estate in Australia.
The budget option is housing in Adelaide, the cost of which is 320 thousand Australian dollars. One way or another, but at present, the price per square meter on a distant continent is 3,000 - 3,500 dollars, and if we are talking about luxury housing, then for the "square" will have to pay 5,500 - 6,000 dollars.
Naturally, the pricing of real estate in Australia is influenced by several factors: distance from the coast, geographic location, proximity to major cities, category of real estate.
Reviews
Most Russians consider buying a house or apartment in Australia a profitable investment, since real estate here is constantly growing in price.
Yes, and apartments bought on credit stimulate: in the first months you have to save money, which under normal conditions could be thrown to the wind. The only negative is a rare opportunity to buy a house where you most want to.
Conclusion
Of course, Australian officials are doing everything possible to attract foreign investment. But it would be wrong to say that housing in Australia will become cheaper. The authorities are trying to turn the real estate market into one of the main revenue items, and they are successfully moving towards this goal.