Moving to Melbourne

Real Estate In Sydney

One of the most beautiful cities on the planet is Melbourne, Australia. The capital and most populous city in the state of Victoria, and the second most populous city in Australia, it is a common destination for moving to Australia. Melbourne, as of 2009, had roughly the population of four million residents, putting it just behind Sydney in terms of population in Australia.

Melbourne has excellent weather, it features stunning landscapes and very friendly people. As well, it is often considered to be one of the most liveable cities on the planet. The Economist recently chose the most liveable cities on the planet, with Melbourne, Australia coming in third in the world behind just Vancouver, Canada and Vienna, Austria. Another study by Monocle Magazine found that Melbourne ranked number nine for most liveable cities in the world. The reasons to move to Melbourne do not end there. Melbourne is classified as a Beta World City by Loughborough University and as a City of Literature by UNESCO Creative Cities Network. It is also one of the top 10 Global University Cities, and one of the top 20 Global Innovation Cities. The city also has the world’s largest tram network, making it a great place to live, one of the best in the world.

When you decide to buy property in Australia, specifically Melbourne, there are some things to consider when dealing with fees and costs. These will be very different than what you may be used to in your home country. Some fees to be aware of include:

• Stamp duty
• Registration of Mortgage
• Municipal rates
• Registration of Title Deed
• Land Transfer Registration Fee

You will also have to deal with various costs associated with the bank that you get your mortgage through. These include:

• Stamp duty on your loan
• Property Valuation fee
• Legal fees
• Loan servicing fees
• Loan Establishment Fee

You also have to look at paying things like solicitors’ fees. All in all, you are going to be paying a lot for your property and this does not even take into consideration the fact that you will probably have to pay real estate agent fees.

Since you are going to be buying property in Melbourne, you will want to have someone living in Melbourne who can look at the house for you. In addition, it is important that you find a real estate agent. Rather than buy a home straight from an owner, you need to go with the protection offered by real estate agencies. While Melbourne is a great city, there are plenty of people who may want to use you and get money from you, and a real estate agent can help prevent that from happening.

Melbourne, Australia is one of the most beautiful and liveable cities on the planet. It is a great place to live and a great place to be. If you are going to move there, remember fees and talk with a real estate agent to see what your options are.

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Moving To Sydney

Real Estate In Melbourne

Probably one of the most famous cities in the world, and one of the most beautiful, is Sydney, Australia. The largest city in Australia with 4.5 million people, it is a place where you can find everything you could possibly want. It is also a world-class city, known for being an international center for commerce, arts, fashion, culture, education, tourism and entertainment. In addition, the city has featured many important events including the 1938 British Empire Games, the 2000 Summer Olympics and the 2003 Rugby World Cup. Mercer’s ranked Sydney as the 10^th best city in the world to live in, while The Economists put Sydney as the seventh most liveable city on the planet.

This just shows that Sydney is a truly great city to live in, and this may be why it is probably the most popular city for foreigners to live in.

When you are thinking of buying property in Sydney, there are some things to take in mind. First, there are the various fees that you will pay including the bank fees to buy the property, stamp fees, and other types of fees associated with property in Australia. Probably the best course of action is to talk with a real estate agent because the agent will be able to tell you exactly what you need to do in order to make sure there are no problems when you buy a property.

Under new proposals that came into place in April of 2010, temporary residents of Australia now have to get permission from the Foreign Investment Review Board, in order to buy any real estate in Australia while living in another country. Under these new rules, you can buy a house but when you leave the country you must sell the house again. These regulations were put in place to crack down on foreigners who bend the rules, as well as real estate agents who help them.

Many Australians are worried about the impact of foreigner buyers on the housing market. Many Chinese investors bought properties in Sydney, causing property values to suddenly jump roughly five to ten percent. This is something that many Australians want to avoid and that means you may find it a bit tougher than you thought it would be to buy property within Sydney.

This does not mean you should not buy property in Sydney. That city is one of the best to live in out of all the cities in the world. You have the ocean right at your doorstep and probably the most famous opera house on the planet. In addition, the housing prices are starting to stabilize with the new rules and that means it may be easier for you to afford a house in Sydney.

Remember, you want to talk to a real estate agent about finding a place and if you can buy a property through a friend who is a citizen of Australia, you can have them buy the house, while you are the one who lives in it at various times through the year.

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Buying Real Estate In Australia

Australia is a very popular country to not only vacation at, but live in, and every year thousands of people make the move to Australia where the sun shines every day and the people are very friendly. The country is considered to be one of the safest to live in, and routinely ranks high in terms of standard of living among its citizens.

If you are thinking of buying a home in Australia, then you need to submit an application through the Foreign Investment Review Board. As a foreigner, you can buy property in Australia that are already developed, to be developed, redeveloped or in the planning stage. The FIRB will review all applications for purchase of residential real estate within about 30 days on average. An approval is granted only on a specific property and there are no approvals given for simply buying a home in Australia. This means that for each property that a foreigner wants to buy, they need to put in another FIRB application.

There are several things that will influence the FIRB in their decision. Some examples, but which are not limited to:

• If a foreign citizen is buying a property for the purpose of renting out the property, it will be refused.
• If the foreign citizen is a purchaser who only wants to speculate on the property’s future value, they will have their application refused.
• If the resident is residing in Australia on an entry visa with more than 12 months of validity and wants to buy a property for themselves, the application will be approved. This will have a condition that the property will be sold when the person no longer lives in Australia.

If you are thinking of buying property within Australia, you can send your application to:

The Executive Member

Foreign Investment Review Board

c/o The Treasury

Canberra ACT 2600

Whenever you decide to buy a home in Australia, it is important to have someone look at the property for you. If you have someone look at the property for you, they will be able to tell you if there are any problems with the property, or anything that you should know. If you are going to buy a property in Australia, you should talk with a real estate agent who will be able to help you navigate through the paperwork of being a foreigner buying a property.

Australia is a stunning country that is the home to 22 million people who all seem to love this island nation. Located in the Southern Hemisphere, the country boasts warm weather, beautiful beaches and plenty to do for anyone who loves the outdoors in a country that was founded on having fun outside. If you are going to buy property in Australia, make sure you go through the official channels to ensure that you get a property the right way and do not fall victim to any scams that may target foreigners looking to buy a property in Australia.

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Real Estate and Property in Australia

Australia is one of the most beautiful countries in the world, and it is a common tourist destination. Some travellers go to the country so often, that they begin to think about actually moving to Australia, or buying property that they can go to for a few months each year.

It is not hard to see why Australia is so popular among travellers and potential foreign homeowners. The country, completely surrounded by water, is the sixth largest country on Earth but only has a population of 22,000,000. Australia is also one of the best places to live on the planet according to several studies:

• The United Nations Human Development Index ranked Australia second in the world, behind only Norway, in terms of Life Expectancy, Education and per-capita GDP.
• Transparency International ranked Australia eight overall in terms of the level of corruption in the country. This means that Australia is one of the least corrupt countries on the entire planet.
• The United Nations Education Index ranked Australia first in the entire world in terms of the level of and quality of education within the country.

All of these things come together to make Australia an excellent place to live, or vacation to for months at a time.

Most people buy homes in Eastern Australia, which is where most of the larger cities are located. The interior of Australia is known for its extensive desert, often termed the Outback by those in Australia and outside of Australia. If you are planning on moving to Australia from a foreign country, you will most likely be looking along the coast, or in the major cities. Currently, the three major hot spots for foreigners purchasing properties in Australia are Sydney, Melbourne, Perth, as well as Brisbane and the Gold Cost. These are popular tourist destinations and with the current economic downturn around the world, real estate prices within Australia have fallen, making some larger homes much more affordable.

That being said, homes are still expensive because Australia has seen its housing market rebound impressively. The average prices for homes in Australia are:

• Sydney:  $577,000
• Melbourne: $492,000
• Perth:  $475,000
• Brisbane: $452,000

If that is more than you can afford, you may look at sharing the property with someone who lives in Australia, who you can use to help pay the mortgage when you are not using the property.

If you live overseas and are not a citizen of Australia, you can only purchase property within Australia that is Off the Plan, New or is vacant land that is going to be developed within the past year.

Property values in Australia will often move up and down in cycles. When property prices go up, it is typically during times of high economic prosperity. As we saw in 2009, when the market was suffering significantly, the housing market fell dramatically in its prices. However, once again, it moved up as time went on and the world moved out of the recession that was gripping it.

If you are thinking of buying real estate in Australia, there are two main methods. These methods are buying at auction and buying through the conventional manner.

• Buying property in Australia through auction requires a 10 percent deposit available the day of the auction. It is important to remember that if you buy a home in Australia through auction, the deposit is non-refundable, even if you change your mind. This is why it is highly important that you have someone visit the property for you to determine whether or not it is the right place for you to move to. You do not want to buy a home that is in bad shape, as you will end up paying more to fix up the home than you would have if you just bought the home through conventional means. Inspections are always important because they will find things that you may not.
• Buying property by conventional means in Australia, you pretty much go the same route as you would in any other developed country. You will find a property that you like, put in an offer and if the offer is accepted, you will have the home inspected and then you can move there. If your offer is accepted, you need to pay a holding deposit while the Contract of Sale is being produced. Your holding deposit is completely refundable during the period when the Contract of Sale is being drafted. The Contract of Sale in Australia will outline all the conditions and restrictions of the sale and usually you will pay a 10 percent deposit that is not refundable. In terms of fees, you will typically pay about five percent on the purchase price as well as mortgage arrangement fees and legal fees.

Australia is a stunning country that gets lots of sunshine, is very safe to live in and has a high standard of living. Thousands of people every year decide that they want to leave their cold countries and live in a place where the sun always shines, the people are friendly and the ocean is everywhere. People who love relaxing on the beach, surfing, or just checking out amazing natural sights choose to go to Australia. They may not live there all the time, but they do live there some of the time and they cannot be happier.

As a foreigner, you do have to go through a few hoops to purchase the property but generally it is much easier to buy a property in Australia than it is anywhere in places in Southeast Asia. For many, buying a property in Australia is a better alternative when you want to live in the South Pacific, without moving to developing countries like Thailand or the Philippines.

So, why not think about moving to the Land Down Under, where the sun shines and the surf is nice and warm.

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