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INVESTOR ROOM / Investing in Australia - Purchase Costs
Purchase Costs:
As a general rule investors should allow:
Legal fees: AUD$1,200
Loan Application and settlement fees: AUD$500 to $800
Valuation: Usually included in loan application
Property & Loan Stamp Duty: This is a state duty and varies for each state.
For more information on:
• New South Wales (Sydney) see www.osr.nsw.gov.au
• Victoria (Melbourne) see www.sro.vic.gov.au
• Queensland (Brisbane) see www.osr.qld.gov.au
Note: The NSW government has recently changed the land tax thresholds and introduced a special exit stamp duty for investors, see their site (as above) for further details.
Exchange Rate Variation:
Investors should be aware that there can be potential gain or loss on exchange rate variations. Currently the exchange rate is favourable for most foreign investors.
Property Management:
Home Port Property work with a number of specialist local property managers. The general charge for property management is 7.5%+gst (of the rent collected). The general fee charged to lease an apartment is one weeks rent.
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