From April 1st, overseas buyers are banned from purchasing Australian resale properties. This is the last chance to enter the market!
As professional buyers’ agents and urban planning consultants, we are fully aware of the impact of policy changes on the market and the importance of investment strategies. The Australian government has officially announced thatFrom April 1, 2024, overseas buyers (i.e. those holding temporary visas) will not be able to purchase existing residential properties., can only invest in new properties or development projects. This policy will change the layout of overseas investors, especially buyers from Hong Kong and Asian markets.
Why are second-hand homes still worth investing in?
Although the government hopes to reduce the impact of overseas funds on the second-hand property market through policy adjustments,The mature secondary housing market remains a solid investment option, with the following advantages:
- Prime location – Second-hand properties are mostly located in mature urban areas or prime locations, with convenient transportation, schools, commercial facilities and complete living facilities.
- Price transparency – The market value of pre-owned properties can be assessed through historical transaction data. Price fluctuations are more stable than those of new properties, which helps control investment risks.
- Immediate rental or self-occupation – Unlike pre-sale properties, you can move in or rent out immediately after purchase, quickly earning rental returns and improving capital turnover efficiency.
However, compared with pre-sale properties,Purchasing a second-hand home involves more rigorous procedures and regulatory requirements, especially for overseas investors, who need the assistance of a professional team to ensure the smooth completion of the transaction.
Why do you need a professional agent to buy a second-hand property?
The transaction process in the secondary residential market is more complex than that in the primary residential market, and faces the following challenges:
- Fierce market competition – The supply of high-quality properties is limited, and there are often multiple bidders (auctions) in popular locations. A professional team is needed to help accurately assess market value and formulate bidding strategies.
- Complicated transaction procedures – It requires procedures such as building inspection, bank valuation, loan approval, and lawyer contract review, which is more challenging than pre-sale transactions.
- Time limit – After April 1, foreigners will not be able to purchase second-hand homes, so it must beComplete all transaction procedures before March 31, including signing contracts, paying deposits, loan approval, etc., time is extremely tight.
- FIRB application fee differences – Australia’s Foreign Investment Review Board (FIRB) charges additional fees for overseas buyers,Sydney and Melbourne property prices generally exceed A$1 million, with FIRB fees as high as A$1,400,000.In contrast,Brisbane still has a lot of quality properties under $1 million, with FIRB fees of just $$42,300., which can significantly reduce investment costs.
How to ensure a successful transaction before March 31st?
As the policy changes are about to take effect, buyers must seize the last window of opportunity. Our professional team will provideOne-stop buyer intermediary service, ensuring the transaction is completed smoothly before the deadline, including:
✔ Selected exclusive second-hand bamboo shoots – Prioritize high-quality properties priced below AUD 1 million to reduce FIRB costs and increase investment returns.
✔ Market analysis and investment strategy – Provide professional market analysis and customized options based on individual investment needs to improve investment efficiency.
✔ Legal and loan support – Assist with contract review, loan approval, and transfer processes to expedite the transaction and ensure it is completed before March 31st.
📩 Last chance! Contact us now to grab the last window in the second-hand property market!
WhatsApp:https://wa.link/viu9v7
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