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Buying Australia property is governed by foreign investment rules. While the Foreign investment review board needs to approve purchases from foreigners, these rules do not prevent foreigners from buying Australia property. Below are Healy Consultants services and key points that will assist in decisions related to buying Australia property:

The current economic downturn has weakened sentiment for buying Australia property. Interest rate cuts by the Reserve Bank of Australia (RBA) along with incentives such as the first home buyer boost are government initiatives aimed at maintaining the strength in the property market.

Buying Australia property is generally possible for non-residents in the following categories: i) Real estate for residential redevelopment, ii) vacant land, iii) home units, townhouses that have not been occupied or previously sold. Any construction on vacant land and redevelopment must begin within 24 months of purchase.

Foreigners are permitted to purchase Australia property but require approval from the Foreign Investment Review Board (FIRB). The FIRB is a non-statutory body which advises the Government on foreign investment policy and its administration. The role of FIRB is to protect Australian citizens while at the same time allowing investment which benefits communities within Australia.

Australian real estate prices are rising as the availability of housing continues to remain tight, the Real Estate Institute of Australia states. Prices have actually risen sharply by 3.7% percent in 2009. Perth was the only capital city not to experience average price increases. Of these capital cities, Melbourne had the highest increase at 6.1%, while Sydney and Canberra showed gains of 3.6% and 4.8% respectively. The simple factor of higher demand than supply is contributing to price increases in the Australia real estate market. However, this is not the sole explanation; it is more likely a combination of attractive first home buyer grants from the government, low interest rates, poorly performing share markets along with the tight rental markets seen in most cities.

Healy Consultants assists clients with decisions regarding buying Australia property by providing analysis of the Australian residential and commercial property market. This analysis can include general economic indicators, real estate cycles, property trends and market sentiment, interest rate and currency fluctuations and how they impact on buying Australia property. The Australian Bureau of Statistics (ABS), Housing Industry Association (HIA) and RP Data are some of the reputable sources that are referenced when researching the Australia property market.

Arranging property finance when buying Australia property is an important step in the process. Healy Consultants present investors with financing options, including international mortgages, and negotiate mortgage terms and conditions. Leading international banks including Commonwealth Bank, ANZ Bank, DBS Bank and OCBC Bank are preferred for obtaining property finance.

A rise in the demand for houses in the Australian property market has lead to the recent price incease.  However, this is not the sole explanation, it is more likely a combination of attractive first home buyer grants from the government, low interest rates, poorly performing share markets along with the tight rental markets seen in most of the cities.

Healy Consultants assists investors who are buying Australia property to efficiently manage current and future tax obligations by providing professional tax and accounting advice specific to Australia. Australian taxes are often criticized but tax incentives exist and seeking expert advice is beneficial.

Healy Consultants will appoint and supervise a local lawyer to make sure all legal requirements for buying Australia property are undertaken correctly and strengths of local laws are utilized to protect asset ownership for foreign investors. More specifically, the legal processes can include:

Creating a legal engagement agreement between our client and the lawyers outlining roles and responsibilities, terms and conditions and legal fees related to buying Australia property.

Collecting the necessary due diligence from the lawyer to ensure our client is adequately protected when buying Australia property.

Establish and monitor the key legal dates of execution within the buying process, including settlement date.

Review all legal documents to ensure our client is adequately protected when buying Australia property.

Ensure our client’s lawyer is frequently communicating with all parties to the property transaction, including mortgage bank, local government institutions and counterpart lawyers.

After buying Australia property, investors are able to take advantage of the post purchase services offered by Healy Consultants. These services, such as listed below, allow clients to avoid the often time consuming activities involved in property investment:

Supervising property management activities such as property refurbishment, property maintenance, property valuations, property security, ad hoc problem solving and issues resolution.

Managing the process of migration to Australia including obtaining relevant visas, co-ordination of relocation, and country familiarization programs.

Obtaining appropriate property insurance to secure the structure and contents of your newly acquired property.

Healy Consultants works with international entrepreneurs and property investors to effectively and efficiently manage all required steps for buying Australia property, and for selling property in Australia.

For further information on buying Australia property, call us in Sydney at +61 280 147 568.