The grass isn't always greener overseas

In fact, a recent survey of 1000 Aussies found that almost 50% of us would consider investing overseas if the situation was right! The survey found that 61% of respondents said that Australia’s higher property prices were the main reason to consider investing internationally.

The interest in investing in property overseas was stronger among younger people, with 62% of those aged 20 to 39 considering going offshore, with high Australian prices being the main driver for 67% of this age group.

Interestingly, only 13% of respondents said that they would invest internationally because of potential growth or yields. Other reasons given included the potential to retire to the property one day in the future (11%); the tightening of benefits of investing in Australian property (7%); and low stock levels in Australia (4%).

From our perspective here at Barry Plant Preston, we would always advise clients purchasing an investment property here in Australia to plan that move very carefully. Therefore, our advice to anyone looking overseas to invest is that even more care and thought needs to be taken. The fact is that we have seen a number of people take that step in the past…and live to regret it.

Buying an investment property is a serious decision that requires careful planning and a lot of thought about where, why and how to structure it. So investing overseas where the laws are different and the implications are different, not to mention the added complication of foreign exchange rates, is a huge decision.

As the old saying goes…Sometimes the grass is greener because that’s where most of the manure is!

Just remember that if you are looking for a property investment, our team is always happy to assist in both sourcing the property and managing it for long term returns. If you’d like to have a chat about the best way to maximise your investment options, don’t hesitate to give us a call.