Good news for the land down under Australia ranked as the fifth best country to provide the most stable and secure real estate investment of 2018.
According to the Association of Foreign Investors in Real Estate (AFIRE), the Australian Real Estate proved to be one of the most stable and secure places to invest. It ranked behind USA, Germany, Canada, and falling closely behind the UK.
A large percentage of the voters decided that the United States still has the most stable real estate investment by far, ranking first since 2017 and accounting for a total of 58% this year. Germany placed second with 20% of the votes. Canada received a total of 12%, then followed by UK and Australia, respectively.
A Drop In Ranking
Australia dropped from its ranking despite its still-achievement. It previously ranked 4th in AFIRE’s best country for real estate investment in 2017 (a hierarchy taken by the UK this year). With London nabbing the 1st best city for real estate investment, Britain got the great impact and boost it needed to calibrate the country’s outcome.
“A year later, foreign investors are less concerned about the ramifications of Brexit,” said AFIRE chairman Edward Casal within the discussion of the recent changes to their list.
Moreover, Casal also mentioned that the London market has been buoyed by several large sales throughout the year.
Sydney Ranks 8th
Australia’s capital city also stole a spotlight of its own. Sydney ranked 8th, tied with Shanghai, under the title of being the best city for real estate investments.
Just last year, Sydney was the 7th runner-up for the top global cities – another rank depression for Australian real estate. The cause of the slips may be due to the better investment opportunities offered elsewhere.
It is also worth noting that London, now topping the list for the first time, previously ranked third globally.
AFIRE investors based their votes around the concerns of the following: interest rate risks, high valuation, the impact of emerging technologies on retail and other property sectors, oversupply in some markets and property types, and possible economic and political missteps which could affect real estate by triggering an economic slowdown or disruption in the financial markets.
Read Also:- How to Get Started in Property Development
Still A Strong Global Interest
Regardless of the drop, the Australian Financial Review (AFR) still expects the global interest from both international and domestic on its general economic outlook.
The economic increase is predicted to remain strong over the next 12 months – this is based on AFR’s perspective of possible offshore accounts as well as on Australia’s stable economic performance, stability, and governance.
AFR only proves that even if Australia is lagging far behind countries such as US and UK, its lack of change in government and foreign investment policies can potentially turn the tables in coming years.
Australian Real Estate Investment can be challenging, both for foreign investors and domestic. Naturally, the country has its own investment policy and even more so with its different regions. This serves just one of the many reasons why conveyancers have become keener in the conveyancing process they are performing.
Australian Real Estate Investment can be challenging, both for foreign investors and domestic. Naturally, the country has its own investment policy and even more so with its different regions. This serves just one of the many reasons why conveyancing process has become a crucial part of every buying or selling of real estate.
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