Australian property investment
- Thread starter nuts
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Location lor.
Actually, if it is so good. Do they need to sell it overseas? :think:
Don't mean to be sarcastic here. But the property market is more or less reach its peak. Some cities are either stabilising or showing a drop in prices. Combined with the high fuel price and increase household debt, I doublt it will increase as much as it did like the last couple of years.
Of course, to each its own. If you got the extra cash, and there is a bargain. :thumbsup: BUY? BUY? BUY? :bsmilie:
Actually, if it is so good. Do they need to sell it overseas? :think:
Don't mean to be sarcastic here. But the property market is more or less reach its peak. Some cities are either stabilising or showing a drop in prices. Combined with the high fuel price and increase household debt, I doublt it will increase as much as it did like the last couple of years.
Of course, to each its own. If you got the extra cash, and there is a bargain. :thumbsup: BUY? BUY? BUY? :bsmilie:
ernest_ted
Senior Member
iirc
1) buy new residential housing project or commerical property, ie 2nd residential housing market cannot buy
2) u can only resell the house to locals; no restriction to commerical property
3) if u rent out, it is subjected to Aust tax.
4) if u repatriate the $$ back to Sing, subjected to Sing tax.
i could be wrong. any experts ?
1) buy new residential housing project or commerical property, ie 2nd residential housing market cannot buy
2) u can only resell the house to locals; no restriction to commerical property
3) if u rent out, it is subjected to Aust tax.
4) if u repatriate the $$ back to Sing, subjected to Sing tax.
i could be wrong. any experts ?
Pablo
Senior Member
nuts said:Thanks everyone for their inputs/views. I was hoping someone has 1st-hand experience dealing with some of those property agencies and share info like reliability, services etc.
Property is generally a good investment here, but, knowing where is the trick.
Personally I would not (blindly) leave it in the hands of any firm to do it all for me.
As no matter what the investment would be, it will involve a good sum of money.
Enough to warrant coming over for a couple of weeks holiday and looking into it.
Generally you have to make a bad choice to loose investing in property, but, the wrong location can mean idle growth.
As an example. I bought a unit here on Bribie Island 4 years ago. The value is currently 3 times what it cost.
Yet, buying a unit or house less than 6 km away (off the island) would still be worth what you paid fo it.
Then again, within 1 km of that spot there is a new estate being built and the land there is worth quite a bit.
Buy leaving it to some firm and not being here to see, they could be giving you a glossy view of something they have being trying to get rid of for years:nono:
Have you ever seen an advert for a unit or house that says "ocean views", and when you get there, the views can be seen if you climb up on the roof and lean out 15 feet :bsmilie:
Cheers
nuts
Senior Member
Absolutely; would mean making multiple trips even, from what I've been told. But being working in Singapore, who would manage the property after the purchase? Hence my question on the reliability of any firm/agencies etc
Thanks for sharing, good that you're doing good with your investment
Thanks for sharing, good that you're doing good with your investment
Pablo said:
nuts said:Absolutely; would mean making multiple trips even, from what I've been told. But being working in Singapore, who would manage the property after the purchase? Hence my question on the reliability of any firm/agencies etc
Thanks for sharing, good that you're doing good with your investment
you can ask Sion to do that for you, currently he's already handling my investment portfolio for me.
and he don't even need to take a but, MacD coffee will do 
Sion
Senior Member
rueyloon said:you can ask Sion to do that for you, currently he's already handling my investment portfolio for me.
Thanks.
Mac Coffee or not your Australian investment portfolio is enough to keep me too busy to be able to handle another one.
Came across this article today......
Victorians risk losing homes
Karen Collier
July 17, 2006 12:00am
Article from: Font size: + -
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THOUSANDS of Victorians risk being thrown out of their homes for falling behind on loan repayments.
Almost 3700 Victorians -- or 20 a day -- have been hit with property repossession warnings in the Supreme Court this year already.
This is on track to triple last year's total.
Easy credit, soaring petrol prices and tight household budgets have been linked to a surge in struggling homeowners being threatened with eviction.
The figures came as home buyers attended 400 auctions statewide on the weekend amid signs of another real estate boom.
Despite this, financial counsellors said many homeowners were living on the edge -- and warned of more pain amid a tipped rate rise next month.
Australians owe a total $753 billion on home loans.
A .25 per cent interest rate rise would add $14 a fortnight to the average $222,000 loan over 25 years.
First-home buyers in Melbourne's outer suburbs were hurting the most, said financial counsellor Jan Pentland.
"Some load everything on credit, juggle up to 10 cards, and fail to take into account council rates and other bills you don't have when renting," she said.
"All it takes is an interest rate rise, an unexpected illness, a job loss or huge petrol bills and it can all go pear-shaped."
Consumer Credit Legal Service manager Carolyn Bond said no-deposit deals aimed at cash-strapped customers could backfire.
"We have seen an explosion in last-resort lenders preying on customers no one else will take because of the risk," she said.
Supreme Court of Victoria figures show lenders lodged 3695 writs from January to June this year against mortgage payment stragglers.
This compares with 2581 for the whole of last year and 1772 for all of 2004.
Not all these customers are ordered out of homes. Some pay their debt or refinance.
Ms Bond said some people were taken to court for falling as little as two months behind in repayments.
She accused some finance brokers of reaping commissions by securing loans for people who could not afford them. Tougher laws were needed to crack down on irresponsible lenders, she said.
Mortgage Industry Association of Australia chief executive officer Phil Naylor said the vast majority of borrowers coped.
"Australia's percentage of defaulters is one of the smallest in the world," Mr Naylor said.
However, recent research suggested one in six home buyers would be uncomfortable if interest rates rose.
Australian Bankers Association acting chief executive Ian Gilbert believed lenders other than banks were more likely to launch legal action.
Banks tried to change repayments to help customers suffering temporary difficulties, he said.
Mr Gilbert said 0.3 per cent of bank home loan customers were in arrears by 90 days or more in December last year.
This compared with a 4.5 per cent default rate for non-bank lenders.
Victorians risk losing homes
Karen Collier
July 17, 2006 12:00am
Article from: Font size: + -
Send this article: Print Email
THOUSANDS of Victorians risk being thrown out of their homes for falling behind on loan repayments.
Almost 3700 Victorians -- or 20 a day -- have been hit with property repossession warnings in the Supreme Court this year already.
This is on track to triple last year's total.
Easy credit, soaring petrol prices and tight household budgets have been linked to a surge in struggling homeowners being threatened with eviction.
The figures came as home buyers attended 400 auctions statewide on the weekend amid signs of another real estate boom.
Despite this, financial counsellors said many homeowners were living on the edge -- and warned of more pain amid a tipped rate rise next month.
Australians owe a total $753 billion on home loans.
A .25 per cent interest rate rise would add $14 a fortnight to the average $222,000 loan over 25 years.
First-home buyers in Melbourne's outer suburbs were hurting the most, said financial counsellor Jan Pentland.
"Some load everything on credit, juggle up to 10 cards, and fail to take into account council rates and other bills you don't have when renting," she said.
"All it takes is an interest rate rise, an unexpected illness, a job loss or huge petrol bills and it can all go pear-shaped."
Consumer Credit Legal Service manager Carolyn Bond said no-deposit deals aimed at cash-strapped customers could backfire.
"We have seen an explosion in last-resort lenders preying on customers no one else will take because of the risk," she said.
Supreme Court of Victoria figures show lenders lodged 3695 writs from January to June this year against mortgage payment stragglers.
This compares with 2581 for the whole of last year and 1772 for all of 2004.
Not all these customers are ordered out of homes. Some pay their debt or refinance.
Ms Bond said some people were taken to court for falling as little as two months behind in repayments.
She accused some finance brokers of reaping commissions by securing loans for people who could not afford them. Tougher laws were needed to crack down on irresponsible lenders, she said.
Mortgage Industry Association of Australia chief executive officer Phil Naylor said the vast majority of borrowers coped.
"Australia's percentage of defaulters is one of the smallest in the world," Mr Naylor said.
However, recent research suggested one in six home buyers would be uncomfortable if interest rates rose.
Australian Bankers Association acting chief executive Ian Gilbert believed lenders other than banks were more likely to launch legal action.
Banks tried to change repayments to help customers suffering temporary difficulties, he said.
Mr Gilbert said 0.3 per cent of bank home loan customers were in arrears by 90 days or more in December last year.
This compared with a 4.5 per cent default rate for non-bank lenders.
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