The type of property Australia should invest most
There are many types of Australian real estate that are well suited to the needs of the people, but what kind of property should be the most affordable?
Remarkably, the “off-the-plan” type of real estate is currently attracting the attention of foreign investors who want to invest in the Australian real estate market.
New real estate can be an apartment, townhouse, or home and land package. A house / apartment is considered a new property if:
- Not built, or not completed.
- Completed but not yet used, total construction time is not more than 12 months if the house was included in a new project built and sold by the developer.
If a property has been used and repaired or refurbished, the property is not normally considered a new home under the FIRB. A house built to replace one or more older homes is not counted as a new home.
It is important to know that when investing in real estate in Australia, foreign investors can only buy new houses / apartments such as real estate in the project or real estate and land. construction socks. You can not buy used houses, whether under your name, fund name, or company name. If the violation, the government will severely punish.
There are many reasons foreign investors should invest in new real estate in Australia:
1. New homes are built with new technologies, and most importantly they will have to ask the local government for a “quality assurance permit”, and will have to ensure the quality of your home’s structure in 15 – 50 years. year. In contrast, the old house in Australia is usually built from the 80 – 90 means that technology is backward for 20 – 30 years, and if after buying any problems will be the buyer completely. responsibility.
2. Buying a new home in Australia will help investors save a significant amount of tax money. Investors can reduce tens of thousands of dollars a year, including tax deductions for building and stamp duties.
In Australia, the price of construction is very expensive, so it is close to the price of the house, so homebuyers can save up to 50% of their registration tax if they buy a new Australian property here. You only have to pay registration tax when you pick up your home, especially first time homebuyers who are tax deductible before you as Australian residents, and the tax savings can be up to AUD $ 50,000.
3. When buying new homes, investors will not be pressured to auction with large numbers of Chinese investors to push home prices up. In addition, investors only have to pay 10% of the value of the house / apartment before signing the contract and 5% of the building. The rest will be paid when the land is named, according to each construction milestone, so investors will have more time to borrow money or prepare financial.
4. Many new homes are built on new land with long-term potential for 25-30 years, with strong government investment in infrastructure.
St Clair’s house prices, for example, almost doubled between 2011 and 2017 because New South Wales focused on investing in the Western Sydney hub around Parramatta and with the new airport commencing in 2018.