Australia at the moment is experiencing a long stretch of economic stability at a time when most of the world’s developed economies are suffering volatility and uncertainty. Australia’s resource rich, self-governed states such as Queensland and Western Australia have helped the rest of Australia to maintain, possibly even increase its appeal as a real estate investment hotspot. It’s no wonder Heran Building Group is experiencing an unprecedented spike in overseas enquiries.
Queensland has long been affectionately known as the ‘Sunshine State’ and while our perfect weather is a major draw-card for people migrating interstate or internationally, there are many other factors which add to Queensland’s charm as the lifestyle capital of Australia. These factors include:
· Increased employment opportunities
· Affordable housing (as a result of Government policies)
· Education system
· Major sporting events
· The world’s best beaches.
These are just some of the reasons for over 86,000 people relocating to Queensland during the 2010-2011 Australian fiscal year (Office of Economic and Statistical Research, 2012). On average, more people migrate to Queensland than to any other state or territory in Australia.
As a result of the increased demand for housing in Queensland, the Queensland Government, in conjunction with the Australian Government has implemented a number of strategies (in some of which Heran is a participant) to increase housing supply and maintain affordable rental prices. Subsequently, the demand for rental properties in Queensland has increased exponentially and investors all over the world are again itching at the chance to invest in the Queensland real estate market.
Why? Well it’s simple:
1. Strong returns
2. Minimal vacancy rates
3. Impressive capital gains
4. Market stability
5. Tax and depreciation benefits (subject to your country’s tax policy)
6. Good supply of quality investment properties.
So, if you’re an investor, you’ve by now decided that your next investment will be in Queensland, Australia. If you’re an astute investor, you’ve by now decided that you’ll be investing with Queensland’s most successful developer AND builder of investment properties since 1952.
The Foreign Investment Review Board (FIRB) is Australia’s statutory body responsible for the examination and management of investment proposals from foreign parties. This process is enabled by the Australian Government’s Foreign Acquisitions and Takeovers Act 1975, the Foreign Acquisitions and Takeovers Regulations 1989 and the Foreign Takeovers (Notices) Regulations 1975.
While the Board is not responsible for making decisions on foreign investment proposals, its function is to advise on policy to facilitate the decisions which are made by the Treasurer.
The simple guidelines in obtaining necessary approval from the Australian Government can be found by reviewing the FIRB’s Information Guide.