Dubliner with access to Euro equity

[diamondmaker]

Hi

Im off the boat in from Dublin, in Brizzy literally 2 weeks. I have been house hunting for a city centre 2 bed for my GF and I for last while.

I have seen that it is very much a land lords market !!

Rents for a decent 2 bed seem to be about 450-550 for a good quality but not over the top. Anything below this has about 30 people trekking in for a 30sec inspection and what must be a lottery who gets the place.

Is the 450-550 price range a very large chunk for the average city worker?
I know converted to Euro it is right up there with Dublin rents !!
Our salaries are higher when converted, so it seems to me, rent is really going thro the roof here.
Is this a common perception from tenant and benefitting LLs alike?

If I were to decide to stay here for an extended period I would be keen to remortage my home in Dublin and use the much lower interest rate to buy here.

Are there any restrictions on forigenr purchases in QLD ?

Anyone with experince of getting large sums thro Fx and the likely costs?

What are properties in the C/C yielding here at the minute?

eg from home: e360k rental in Dublin will gross yield about 16800 p/a = 4.6%

Im curious to see what effect the higher int rates have on yield here!
Must be positive for cash buyers?

Cheers for any advice and correspondance
DM

 

[Ausprop]

checkout www.firb.gov.au

property yields are pathetically low in Aus, check it out before you commit to anything. In Australia, the landlord pays for council rates and water rates too. And there is land tax which is a state based tax.

perhaps the low yiled is a reflection of an overpriced asset class!!

 

[landlubber]

DM ,
I think you may have trouble buying Aussie property as a foreigner. I'm not an expert but we have friends from USA who tried to buy. They ended up setting up a company to buy a "holiday home" on the Gold Coast which they can use about 6 months per year. They are on tourist visas. But they have been unable to get permission to buy any more IPs. They have huge funds available.

Good luck !
LL