Rational Thinking: How To Judge Whether Buying A House In Australia Is Suitable For You?
More and more people are looking for new wealth growth in the overseas real estate market. Nearly half of China's high net worth population target overseas real estate, with an average of 2.3 overseas properties and 15.6 percent owning four or more overseas properties, according to the Hurun report.
As the value of the RMB fluctuates, people realized the limits of the single market. Compared with the booming domestic real estate market, nearly half of China's high net worth population target overseas real estate according to the Hurun report. They have an average of 2.3 overseas properties and 15.6 percent of them own four or more overseas properties.
The overseas market has become familiar to all, and more and more people are going abroad to seek wealth in the overseas real estate market. Among them, the Australian real estate market has been particularly popular with domestic consumers in recent years, and even real estate moguls have turned their eyes to Australia. Last year, Wang Jianlin, who has expanded his cultural and tourism industry, planed to build a large theme park on Australia's gold coast that will rival Disneyland and universal studios. The project is said to cost more than 1 billion yuan. In addition, Poly Real Estate, Ping An Insurance(Group) Company of China, Ltd, Evergrande Real Estate Group, Country Garden Holdings Company Limited etc. have all long been deployed in Australian real estate. Our real estate finder is kind.
When it comes to specifics, that is, don't only focus on personal preferences or marginal factors like living environment and social welfare. Whether a market is worth intervening depends crucially on indicators of economic development. Australia's GDP has been growing for 21 consecutive years, which has laid a solid economic foundation for the sustained and stable development of the real estate market. Even when the financial crisis and the subprime crisis had a huge impact on the global market, the impact on the Australian domestic market was very small. If you want to buy real estate, please contact us.
Therefore, the development of its real estate market has been steadily on the rise. Why can the Australian real estate market have such good development and the ability to resist the downward pressure of the market? We can analyze the following three aspects: For employment opportunities, the first thing that comes to mind is the two famous capital cities with a population of over one million -- Sydney and Melbourne. Sydney is the center of Australia's economy, transportation, trade, and culture. It has one of the largest seaports in Australia. Its industries are mainly oil refining, machinery manufacturing, chemistry, and textiles. Sydney has a developed railway network and road network connected with the vast inland areas. More jobs and a huge job market have attracted migrants from around the world and other cities around the country, with Sydney's population reaching more than 4.8 million by the end of 2015. Melbourne has more than 4.4 million inhabitants, and the growth rate of the local population of Australia is the highest among the 20 world powers. As the population increases, strong demand for housing drives up the housing market. We sell the house real estate.
Strong local demand and constant influx of immigrants have greatly increased the demand for housing. As the annual supply of new houses is limited and the annual new commercial housing cannot catch up with the effective demand growth, the gap is constantly expanding. A chronic housing shortage has led to brisk trade in the housing market. At the same time, the government's housing policy has encouraged people to borrow money to invest and spend in advance. The rise in house prices makes sense. For capital leverage, bank lending rates hit a record low, making investors more affordable. The lending rates of various financial institutions and Banks in Australia have reached the lowest level in the past 60 years. The ultra-low mortgage rates for two-year fixed loans issued by some Banks have greatly stimulated buyers to enter the market. We sell real estate melbourne suburbs.
From the above three aspects, it is reasonable for the Australian real estate market to maintain a reasonable value range in the current global market downturn. In addition, apartments and villas have been the overseas property types favored by high net worth people. Commercial real estate is affected by the investment threshold, policy risk, large fluctuation in returns and the unfamiliar local economic environment, so the proportion of commercial real estate in overseas properties is low. It can be seen that residential real estate is more favored by high net worth people due to its stability.
The driving factors and demand analysis buying properties overseas in China's high net worth population
Spread risk. According to the Hurun research institute, "Spread risk" is the main reason why Chinese high net worth individuals buy global real estate. In the third quarter of 2016, China's GDP grew by 6.7%. The domestic economy is in slow growth. In addition to the weakness of the RMB exchange rate, more and more high net worth people begin to look around the world and hope to protect their assets through overseas asset allocation. There are houses for sale near Melbourne Australia.
Children factors. In recent years, more and more Chinese people have sent their children abroad to study. The trend is towards a younger age. Therefore, the overseas life of their children has also become an important driving factor for high net worth people to purchase overseas property. We find that parents are paying more attention to cultural input because they are concerned about their children's young age and weak independence. Buying overseas properties will not only make it easier for parents to "accompany" their children to study, but also can solve the problems of ordinary life for their children. Similar to the domestic situation, in some academic countries, there are also very urgent rental demand and considerable income. According to our survey, high net worth individuals are more likely to choose "cultural property" with 52 percent high. It can be seen that the purchase of overseas real estate for their children's study abroad is becoming a new trend for Chinese high net worth people.
Channels and trends. In terms of obtaining information on overseas real estate investment, the "friend and relative recommendation" is the channel they trust, accounting for 28.2%. But the "investment related laws and regulations, policies, etc are also their blind spots. So when asked about the "difficulties in purchase overseas housing", high net worth population is generally believed that "Not familiar with the local economic and legal" is a major challenge for overseas buyers, the population proportion is as high as sixty percent. At the same time, compared with the purchase of domestic real estate, the complex process of purchasing overseas real estate, high maintenance and holding cost also bring some troubles to them. Therefore, some channels that can provide a "one-stop" service for overseas house purchasing will become a big demand for high net worth people to purchase overseas property.
In fact, Chinese have a long-standing sense that they must buy a house. Since ancient times, Chinese people have always believed in "there is no home without a house". The residence of a family will become a symbol of status. In modern society, a Chinese house is not only a residence, but also a symbol of registered permanent residence and education. In big cities, it is common for families to buy a house for registered permanent residence or for a good education. However, in Australia, the local young people prefer to rent a house rather than buy a house, believing that a house is not a necessity for a family.
According to the survey, Chinese people in Australia still focus on buying houses. According to the 2017 st. George real estate survey, Chinese-born Australian residents attach more importance to property ownership. Chinese with house for sale au are 23 percent more likely to buy a house in Australia than Local people. And they are more likely to buy new properties. The survey found that about 75 percent of Chinese in Australia own property, 10 percent higher than the national average. 79 percent plan to change their living conditions over the next five years, compared with a national average of 59 percent. Ninety-four percent of them believe that the stability of living in their own home is important for their family, and 93 percent say owning a home gives them confidence in their family's future. Ross Miller, general manager of banking services at st. George, said: "Chinese culture is dominated by families, and Chinese-born Australians have always put family at the top of their game. This is especially true when it comes to real estate -- as evidenced by their motivation or the hope that their family will help them buy.”
Chinese immigrants arrived in Australia between the ages of 20 and 44, during which buying a house was considered a priority. Forty-four percent of them receive some form of help from family and friends, while 15 percent receive money directly from their parents. "What's interesting to us is that they almost always pursue a stable family life." Miller said. Australian media: If you do not buy a house now, you won’t be able tot afford a house in the future. Some Chinese who just come to Australia, often put off the matter of buying a house in the future because of the lack of money and being unwilling to ask families for help.
But a recent report in the Australian media has cooled the hearts of the "homeless". According to the report, data from the Australian Bureau of Statistics show that the average net worth of Australians approaching retirement has increased seven times as much as that of Australians aged 25 to 34. The main reason for this is that older people own more real estate such as property. At present, the average wealth of Australia aged 55 to 64 is 1.24 million Australian dollars, an increase of 844 thousand Australian dollars since 2000. The average wealth of Australians aged 20 to 30 is only 269,000 Australian dollars, an increase of 120,000 Australian dollars since 2000. The reason for this disparity is the wealth gap between those with and without homes 20 years later. A house is more than a tangible property that can be used for living and renting. In the long run, as house prices continue to rise, an individual's assets multiply exponentially. That's why the wealth of older people who bought houses when they were young is growing so fast.
The problem for young Australians who don't have any real estate at the moment is that if they can't find other better ways to invest, their financial situation in retirement may be quite poor. The likely problem is not only that they don't have a house to live in, but they have no money endowment. So the sooner you buy a house, the better. The sooner sooner you buy a house, the sooner you'll get paid.
38 Peel Street, Quarry Hill VIC 3550
New price $270,000
Land area336㎡
Set in the heart of Quarry Hill, with a fabulous location opposite the primary school, and a short stroll to the ninth hole at the golf course, this alone is a good reason for a quick purchase.
But wait. Inside it has an ambience second to none, so if you want to curl up and get away from the world for a while, you have as many as three living areas to choose from.
69 Jennings Street, Kyneton VIC 3444
$490,000-$515,000
Land area730㎡
You will be impressed by how this home has been cared for, nothing to do but move in. Set on a town block of 730m² approx. 3 bedrooms, master with walk-in-robe and 2 bedrooms with built-in-robes plus study or 4th bedroom. As you enter the house you are welcomed into a large lounge/dining area.
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