Buy Property in Melbourne
Why buying property in Melbourne?
Investing in Melbourne, particularly in residential property brings investor attractive potential return. The reasons are:
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Historically the price of apartments in Melbourne is 20-25% more affordable than Sydney. However, the current price difference of CBD apartments between the two cities is 45%.Therefore Melbourne has greater growth potential than Sydney.
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Melbourne property price has continued to strong strongly over the years.
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High investor confidence towards Melbourne property market has motivated investors to buy a new property.
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The increasing number of immigrants: The population growth in Melbourne is beyond other cities thus increasing the demand for property. The population growth is about 4% per year.
Facts in residential occupancy:
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First home buyers consider now is the right time to take property loans due to low interest rates.
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Demand for rental property has continued to grow since 2008, pushing the rental price up, and keeping the percentage of vacancy rate at low level.
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Shortage of a new housing stock has increased rental prices and property prices increased rapidly.
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The fact that Melbourne is one of the most affordable property markets in Australia and incentives given by central and local governments for a first home buyer boost interest in purchasing a property
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The increase in rental rates and low interest rates has generated profits for investors.
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Comparing with other world economy growth, Australia has a very strong economic growth compare to other countries such as: UK, US and Korea (according to CIA data 2010).
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Having a strong property record for over 30 years has made Australia the country that can provide attractive and consistent gains in property investment.
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Australia has a clear property law and a low risk in the process of buying a property, where the process is efficient, easy, open and transparent.
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The price of property in Melbourne particularly Apartment is relatively stable and even tends to increase