Real estate in Gold Coast is stable and secure, making it an extremely attractive investment for foreign buyers. However, the laws of real estate ownership differ in every country and every state in Australia. Here are some items to look out for as a foreign buyer when considering real estate investing on the Gold Coast:
FIRB approval – foreign buyers may only purchase properties that are approved by the Foreign Investment Review Board. This means off the plan projects, brand new properties and house and land construction options are available for foreign buyers;
Stamp duty – the Queensland State government imposes stamp duty on all property transfer. The Office of State Revenue has a calculator that can help calculate how much stamp duty you have to put aside to pay to the state government;
Additional Foreign Acquirer Duty (AFAR) – from 1 July 2018, an additional 7% on the purchase price is payable as foreign acquirer duty to the state government;
Conveyancing – as rules and laws are different for every state and country, you will need an Queensland registered conveyancer or solicitor to assist you with your property ownership transfer.
Real estate in Gold Coast achieves stable returns and growth over time. Whilst the rules are different from every state and country, when investing on the Gold Coast, speak to a Nuvaq team member who can guide you to selecting the best investment opportunity for your international investment portfolio.
