The property buying rules differ for residents and non-residents in India. Same holds strong in case of Australian real estate property market also. If you are not an Australian resident, you cannot invest in every piece of land. Let’s take a brief look on residential property buying rule for Australian residents and non-residents.
Residential Property Investment by Australian Residents – The temporary residents of the country can only buy single established dwelling for their personal usage. They can also buy a vacant land with the sole purpose of building new dwellings. However, they cannot buy established dwellings for investment purpose in Australia.
Residential Property Investment by Non-Residents – The foreign residents are allowed to buy new dwellings, under construction properties and vacant land with the purpose of development.As they are not residents of the country,they are allowed to buy established dwelling only when they demolish the said dwelling and within 4 years of date of approval build the new one.
Like this, there are many other regulations regarding property tax, housing loan procedures, etc., which differ for residents and non-residents. So, if you are interested in making investment in Australian residential property market, it is advice to get associated with reputed property investment companies like Dream Design Property, etc.
Benefits with Property Agents
There are not one or two but myriad benefits client get after associated with reputed property buying agent like Dream Design Property. Some of those benefits are:
- The agents have expertise knowledge of Australia property market and help clients in choosing the right property.
- They help clients in closing the deal in limited time frame at the right location.
- They help in negotiation process.
- They take entire onus of completing all legal formalities with regard to purchase and sale of residential and commercial property in Australia.
- They offer exemplary property investment solutions to both residents and non-residents of Australia.
So, invest your hard-earned money wisely by seeking guidance from reputed property buying agents.
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