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If foreign buyers were issue pushing prices the fall in the dollar will see even further demand.
For a Chinese, Malaysian, Singaporean etc buyer prices are around 10% cheaper and economists are tipping the dollar could fall further saving them even more.
http://www.firb.gov.au/content/faq.asp
Based on this link and some of the answer provided.
It is clear that foreigner must purchase AU property for PPOR purposes only, so, in order for this to happen, firstly, our education system / migration must improve before our property can attract foreign buyers?
It's called the Foreign INVESTMENT Review Board for a reason mate.
So, based on the statement of the fall in dollar will lead to increase foreign buyer is not valid in this case, that was my point
If the dollar falls, then houses become cheaper for foreigners.
Comprehende?
But if there are no new legible foreigners buyer coming into the country, either via education sector or migration, how does a slight fall in the dollar going to attract new buyers?
http://www.firb.gov.au/content/faq.asp
Based on this link and some of the answer provided.
It is clear that foreigner must purchase AU property for PPOR purposes only, so, in order for this to happen, firstly, our education system / migration must improve before our property can attract foreign buyers?
Incorrect. FIRB prohibit existing property purchases. New builds are fine. They can be rented or used by their kids studying etc....
Properties become cheaper to purchase, but I recently read an article saying that many foreigners still take out local finance, in which case servicing the mortgage (or any shortfall after rental income) will be more difficult if they don't earn income locally. Furthermore, if prices have fallen 10% (due to the exchange rate) and there is an expectation the dollar will fall further (as is the case now), then why wouldn't they wait to buy?If foreign buyers were issue pushing prices the fall in the dollar will see even further demand.
For a Chinese, Malaysian, Singaporean etc buyer prices are around 10% cheaper and economists are tipping the dollar could fall further saving them even more.
It's called the Foreign INVESTMENT Review Board for a reason mate.
That's why its called the FOREIGN Investment Review Board.
Incorrect. FIRB prohibit existing property purchases. New builds are fine. They can be rented or used by their kids studying etc....
Its now publicised - the FIRB don't prohibit/ enforce anything.
The FIRB rules have so many holes in it - its not funny. There are structures that can beat the FIRB rules and the good accountants and brokers know this (and the real estate agents).
How many fines has the FIRB issued?
Cheers, Ivan
I'm not convinced foreign demand is set to increase.
So, based on the statement of the fall in dollar will lead to increase foreign buyer is not valid in this case, that was my point
Thanks for the clarification.
Do you really believe that a slight fall in our dollar will have a significant increase in our property market?
I believe the only way to have a significant increase in foreign buyers is when all sectors move together (foreign exchange, education market and migration levels)
This is the point that I was trying to express earlier