Real Estate
www.realestate.com.au
One of the largest search engine's for residential, buy or let, property in Australia.
Recently acquired property.com.au. This site also give information and advise on
mortgages, stamp duty and pretty much anything else you may need to know
about the Australian property market.
Commercial Real Estate
www.commercialrealestate.com.au
Renting
The rental market tends to centre around apartments. Most properties are let through agents, who charge a fee for a week’s rent for a six-month lease and two weeks rent for a year’s ease. You also have to pay a bond of a month’s rent, which is held by the Rental Bond Board. You get this back on leaving, less any damages (same as UK).
Buying
This is the cheaper option for those staying long-term. Once you’ve found a property, you can secure it with a “holding deposit”. This is fully refundable should you decide not to go ahead. When you sign the contract of sale, you have to pay a ten per cent deposit. This is forfeited should you pull out. Once the contract is signed, the searches take place. If they are satisfactory, contracts are exchanged and the sale goes through. In some states, there is a “cooling off” period during which you can pull out within a few days of exchange of contracts.
The associated costs of buying a property – including Stamp Duty, Land Transfer Registration, legal fees and mortgage fees – vary from state to state, but generally, the more expensive the property the higher the fees will be. Reckon on adding around 5% to the property price. For further information on restrictions for buying property as a foreigner please contact the Foreign Investment Review Board www.firb.gov.au
Property tax is called Council rates in Australia and is charged by local authorities for local services. The amount can vary enormously. In some states, Land tax is payable, based on the value of the land, disregarding any buildings on it.
Your guide to Australian commercial and industrial real estate.
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