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Unlike many other countries, properties that are marketed off plan in Australia are usually NOT discounted.
Buying a Australian off-plan property means reserving a property on a new development before the property is completed and often before construction has even started. The developer is keen to sell as many properties as early as possible in order to raise capital for construction and minimize the risk to themselves and the borrowed funds from banks. Unlike many other countries, properties that are marketed off plan in Australia are NOT usually discounted by around 10 to 15% below market value. Many overseas buyers love to buy off-plan properties. But what's in it for these buyers ? Why is buying off-plan property in Australia so popular? There is no doubt that a significant proportion of foreigners buying Australian off-plan property are experienced speculators looking to make a risk-free, high-return investment by selling on the purchase contract before completion.
However, as previously mentioned, as prices in Australia are NOT usually discounted for off plan sales, this often does not come to pass.
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"Why it's Time to Be Paranoid About Inflation Risk"
""The flaming embers of inflation have already landed atop the thatched roof of American finance"...For those readers who do not feel like wading through the preceding metaphors in order to get the point, here's the skinny:.... In short, we think it's a good time to risk being paranoid about the threat of inflation." . . . keep reading
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Australian rents to rise by 50%
If renters think paying for accommodation is bad now, a new report is predicting rents in major cities in Australia will rise by 50 per cent over the next four years. Most major cities have see . . . keep reading
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Buying off the plan..
Mark Taylor
Some specialist marketing groups are often able to offer their client base a presale price opportunity BEFORE public launch... . . . keep reading
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What does the "Average" price mean?
Statistics from the Authorities can be misleading for foreign investors! Here's why... Various bodies in Australia produce data relating to the 'median' or 'average' house or apartment prices and rentals. However, for many overseas investors this data is often useless, and . . . keep reading
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Just Released!
NEW!
"The Foreign Buyers Complete Guide to Buying in Australia" Updated for 2009.
Now available as an E-Book. Just released! |
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