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D/All,

A friend of mine recently got PR and he is interested in buying a property in Australia somewhere around Sydney. Any suggestions on how he should identify property once he arrives in Australia. Does people bargain on the rates..? Will he get some kind of financial support from Banks? But then first all, can he buy property on a PR stage or he has to be a citizen..

Please advice.....
 

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He can definitely buy real estate properties on PR visa :)

And yes, people definitely bargain on the rate - who buys a house without a price negotiation?

He can use sites like THIS to search for suitable property.

As for the mortgage loans, it all comes down to his credit ratings.

As a new arrivals to the country, I think his credit rating won't be that high, so maybe he should work and live in Australia paying his bills on time for a few years before seeking for a good mortgage deals from the banks.

There's been a talk of a property bubble building up around Sydney and Melbourne areas for some time now, so I personally wouldn't buy real estates around Sydney now, especially with high percentage of mortgage.


But, that's just me, your friend should make his own decisions. :)
 

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I would say, rent for a while first and check out the market from the real estate agencies like Century21, LJ Hooker etc. A great website to compare property is RealEstate (dot) com (dot) au
 
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