Foreign Investment in Melbourne Real Estate

Investors find the Melbourne real estate market so alluring, and it’s no surprise. We live in one of the world’s most desirable cities; often envied by the rest of the world for its outstanding amenities and infrastructure and eclectic mix of art galleries and theatres. It’s clean and safe to raise a family with access to some of the country’s most prestigious schools and universities. Melbourne, like the rest of our country has a relaxed, laidback lifestyle that’s highly sought-after. For buyers looking to purchase real estate, Melbourne has something for everyone and its property market is about as diverse as the people who live here.

The Australian Government welcomes foreign investment. It has helped build Australia’s economy and will continue to enhance the wellbeing of Australians by supporting economic growth and innovation into the future. Without foreign investment, production, employment and income would all be lower.

Foreign investment brings many benefits. It supports existing jobs and creates new jobs, encourages innovation and the induction of new technologies and skills, provides access to markets and promotes competition amongst our industries. We saw a change in legislation this year with State Government altering the foreign investor surcharge to 7% on residential stamp duty and 1.5% on land tax.

With relatively low unemployment rates and a healthy exchange rate for foreign investors, especially the Chinese; Australia and its capital cities in particular will remain sought-after destinations for many years to come.

Disclaimer: The information contained herein is to be used as a guide only. Although every care has been taken in the preparation of the information, we stress that particulars herein are for information purposes only. Statistics obtained from REIV.