You can buy a Greek villa or French farmhouse for the cost of a tiny property in Sydney or Melbourne.
Any wonder HALF of Australian real estate investors are heading overseas?
Half of Australians said they would look overseas when purchasing property
The majority of those said the reason was high housing prices domestically
For the cost of a Sydney apartment buyers could afford a villa in Greece.
By Cait Kelly For Daily Mail Australia
PUBLISHED: 03:14 BST, 7 May 2018 | UPDATED: 03:14 BST, 7 May 2018
Many Australians turned off by skyrocketing property prices are broadening their searches to overseas real estate markets.
Half of Australians say they would choose foreign destinations over buying property at home, according to a new study commissioned by international money transfers site WorldFirst and carried out by an independent firm.
Of the 1000 respondents 50 per cent said they would consider overseas investment - and the major reason given was property prices being too high at home, Realestate.com reported.
This property in Melbourne will set a new how owner back $920,000 which is just over the median house price of $903,859 across the city
For $863,473 it's possible to purchase this French farmhouse sitting on 3.8 hectares of land with separate guest room
This three bedroom villa in Portugal will set buyers back $868,550 AUD. It's a 900-metre walk to the beach and has several terraces to sit back and soak up the sun from Sixty-one per cent of those interested in owning foreign property said it was due to the housing bubble at home.
Other reasons were 'better growth and yield overseas' (13 per cent) and 'the potential to retire there one day' (11 per cent).
The top five destinations for international property-related money transfers from Australia in 2017 were the United Kingdom (35 per cent), New Zealand (11 per cent), United States (8 per cent), France (5 per cent) and Thailand (4 per cent).
Best Asia real estate editor's comments:
What this article doesn't point out is that Australian's don't have to look as far as Greece or France to buy excellent properties that are inexpensive and offer great potential.
Many have already made their decision and are buying in Bali only a 6 1/2 hour flight from Melbourne and Sydney.
In fact many are deciding to move here full time.
When they discover they can purchase a three bedroom 550 m2 luxury villa for as little as $250,000 with private swimming pool just a few minutes from the beach and have a private Maid for $200 a month the decision is made very quickly.
Three Bedroom Bali Luxury Villa Only $250,000
They can sell their medium priced studio apartment in Sydney for $739,000 and by 3 Villas in Bali. They can earn $4,000 to $5000 per month net income on two of them while living in one.
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HALF of Australian real estate investors are heading overseas Continued
The median price for a studio apartment in the Sydney 2000 postcode is $739,000.
For this price potential property owners could buy a four-bedroom villa in Greece, or for $60,000 more, a 609-square-meter home in the Bahamas overlooking the beach.
For the median price in Melbourne it's possible to purchase a French farmhouse sitting on 3.8 hectares of land with a separate guest apartment, or a large house in Portugal only 900 metres from the beach.
This tiny 48m² studio in Sydney comes with a bedroom that 'comfortably allows for a queen sized bed' and will set you back just under $739,000
At the same price ($725,000 AUD) is this four-bedroom Greek villa which is a five- minute drive to the town of Lindos on the island of Rhodes, or 15 minutes' drive to the beach
For $60,000 more than the price of a studio apartment in Sydney you could purchase this 609-square-metre home in the Bahamas
A long-term lease on this Balinese villa will set prospective investors back just $485,000
For a fraction of that price, just $485,000, those looking for overseas luxury could be lounging by their pool with a 27-year lease on a Balinese villa.
WorldFirst head of exchange Patrick Liddy warned potential buyers not to jump in without looking at the exchange rate 'as a negative swing in our dollar could mean paying a lot more than expected.'
'Ongoing maintenance costs and rental yield will also be affected by changes in foreign currency,' he said.
Australians are looking abroad for affordable homes - realestate.com.au
Read more: http://www.dailymail.co.uk/news/article-5698093/Australian-property-market-prices-sends-people-looking-abroad-homes.html#ixzz5Enc4QoL1
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