Australia is one of those unique countries whereby the vast majority of the population is housed in a relatively small part of the vast landscape of the country. This has therefore led to various short-term swings in property prices, linked very closely to an economy that is dependent on commodity prices.
Historically in Australia, the purchase of home or apartment in the country has always been termed as a good long-term investment even with the market’s volatility. While the government is looking at ways to smooth out the property market curve, it is proving difficult to avoid short-term volatility. However, as the economy grows it should become easier to control the property market, and in particular the various hot spots of Sydney, Melbourne – where most Expats moving to Australia wish to settle. One way to do this is with the real estate fees as explained in a post at the Australia Expat Forum last March 16, 2008:
Real Estate Fees, are different in different states too. If you sell you will pay the standard reiq fee with most recognised agents which is 5% of the first $18000 and 2.5% thereafter. its alot anyway!
Stamp duty on a $500,000 home is $10,000, this changes for different price houses…… [click to continue…]
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