Good afternoon and welcome to Scoutable’s February wrap up. We hope you have settled well into 2017.
Scoutable held its first ever roadshow to Hong Kong & Singapore in February, where we presented on the Australian property market and met potential buyers including expats and foreign investors. We learnt that the appetite for foreign investment is strong. In fact, 70% of loans drawn overseas for Australian property are for foreign investors, whilst the remaining 30% are expats from not only Australia, but also England, America and Europe.
There are many great reasons for expats and foreigners to invest in the Australian property market:
A safe investment
More affordable options compared to local prices
Good yield and return on investment
The opportunity to build tax credits and wealth*
A home to settle in upon return to Australia
Our trip was a great success, and we're already planning our next visit in May. Please get in touch if you, or someone you know would like more information regarding investing in the Australian property market as a foreigner or expat.
The official cash rate was kept on hold at 1.5%, following the Reserve Bank of Australia's first rate meeting of 2017 on the 7th February. Interestingly, some lenders are adjusting interest rates outside of the RBA movement (or lack thereof) and there are still some attractive deals out there. To ensure you get the best match for your needs and situation, we can recommend some great brokers to help you find a loan that suits you best.
Are you looking to buy or invest? Call us for a chat. We love property and would love to find the perfect one for you.
Till next month,
Kellie Landrey | Principal Buyers Agent
*Scoutable is unable to provide tax advice. For independent tax advice, please seek guidance from a tax professional.
IN THE NEWS
SCOUTABLE PRIDES ITSELF ON BEING INDEPENDENT, SO FEAR NOT!
WHAT YOU NEED TO KNOW AS AN EXPAT
PROPERTY OF THE MONTH
852A ELIZABETH STREET, WATERLOO
Down an unassuming driveway in Waterloo sits this unique warehouse inspired dwelling. The property sits on 181sqm of land accommodating up to three bedrooms over two levels.
The entry floor provides master bedroom and open plan kitchen, living, dining which opens onto a small courtyard with plunge pool. Upstairs consists of two more bedroom and optional fourth bedroom or study. The property also provides parking for two cars. The price guide is $2.4M - $2.6M with a rental guide of $1,600 per week.
We love the variety of textures and features this house encompasses. From the custom copper kitchen to the freestanding solid marble bath. The exposed timber beams, concrete floors and dual sided gas fireplace.
Located 4km south of the Sydney CBD, Waterloo was originally an industrial area and is historically a working class region however since the early 2000s, the area has undergone a considerable degree of gentrification. In 2006 the median individual income in Waterloo was slightly higher than the Australian average. The suburb maintains numerous public housing apartments which has been a topic of controversy with regard to their demolition and the construction of luxury apartments.