Australia has more to offer than shrimp on the barbie and Steve Irwin. The average price for an Australian home was $852,940 in 2020. Despite the pandemic, house prices reached record highs throughout the country.
If you’re looking to become a real estate investor, you should consider investing in Australia. But don’t book your flight just yet. You should understand the benefits of investing in Australian property.
How does the government help real estate investors? Who can buy property in the country? What kinds of property should you invest in?
Answer these questions and you can turn the Land Down Under into your personal piggy bank. Here are five benefits of real estate investing in Australia.
1. Australia Offers Tax Breaks
Negative gearing occurs when an investor borrows money to pay for an asset, but the asset does not produce enough money to pay the debt off. When you experience negative gearing in Australia, the government helps you out.
You can claim your loss of money as a tax credit. You may have your taxes waived if you lost a lot of money.
2. Australia Is Stable
When the American real estate market crashed in 2008, many countries crashed with it. The United Kingdom, Ireland, and Spain all went into recessions.
But Australia stayed afloat. The federal government offered grants to first-time homebuyers so they can pay for homes. This kept house prices from falling, allowing Australian real estate professionals to keep working.
3. Foreigners Can Buy Real Estate
The Foreign Investment Review Board (FIRB) approves applications by foreigners to buy property and land in the country. Though you must follow their regulations, the FIRB approves applications from all over the world.
You can bypass the FIRB under certain circumstances. If you want to buy an apartment, you can go to the developer and buy it directly from them.
4. The Landscapes Are Beautiful
Australia’s landscapes are phenomenal. The skyline of Sydney contains many beautiful buildings, including the world-famous Sydney Opera House. If you like being out in nature, you can buy a property in rural Queensland and overlook tropical rainforests and deserts.
The best suburbs in the country showcase Australia’s architecture. Do your research on the suburbs near different Australian cities and figure out which suburbs you find the most attractive.
5. Living Standards Are High
By all metrics, Australia has extremely high living standards. It has one of the biggest economies in the world, with one of the highest per-capita income rates. It is a democratic, well-educated, and safe country.
Australia does have its problems, especially with racism toward Indigenous populations. Some areas of the country are less developed than other areas, so you should do your research before you start real estate investing. But you should be confident that Australia is a top-notch place for real estate.
Become a Real Estate Investor in Australia
If you want to earn money quickly, you should become a real estate investor in Australia. The government lends a hand to many investors, offering tax breaks to investors and grants to first-time homebuyers. You can even buy apartments without government approval.
Buying different pieces of property in different parts of Australia will let you see landscapes and architectural styles you can’t find elsewhere. Most parts of Australia are well-developed, so you’ll find many people eager for real estate.
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