Australian Dollar: Steady currency not subject to major fluctuation.

Economic climate: Deliberately tailored to attract external investment. Cost of living is generally lower than North America by as much as 50%. Overall national variance is not significant.

Taxes: Capital gains tax applies to 100 per cent of the profit made on investment properties. Tax dispensations applicable to investors can be readily identified through a solicitor, however all maintenance, council and water rate charges can be offset against CGT.

Popular areas: Sydney and Melbourne accommodate a high percentage of the country´s population and are sought-after investment locations. The Gold Coast as a major tourism centre is very popular in terms of property investment. However, in 2004 growth is apparent in many other areas.

Price ranges: Depend on style and location, but will accommodate most budgets. Real estate is relatively expensive in the larger cities, peaking in Sydney.

Budgetary guide: Detached houses range from AUS$ 485,000 to AUS$ 865,000, semi-detached or terraced houses from AUS$ 300,000 to AUS$ 675,000, townhouses between AUS$ 200,000 and AUS$ 550,000. Three-bedroom luxury apartments cost approximately AUS$ 580,000. Equally property starts at AUS$ 150,000 in some areas.

Overseas investors: May purchase land earmarked as residential, but building must commence within one year, and are also free to buy from new and work-in-progress developments (up to a maximum of 50 per cent foreign ownership of availability). Purchases of existing property requires F.I.R.B. approval, which is not generally given, unless you already have permanent residence status.

Service fees: Stamp duty varies from state to state. In Victoria off-plan stamp duty is calculated based on the value of the land associated with the property, which can be as low as five per cent of the duty post construction. Conveyancing charges are usually in the region AUS$ 900. A body corporate fee applies to townhouses and apartments. Property management fees represent around six to seven per cent of the rental return.

Mortgages: Providers and product options abound as a result of a major re-organisation of the industry in recent years.

Information: Web access www.mortgagechoice.com.au


 Related site: http://www.mortgagechoice.com.au