thanks for the pointer..
which currency are your financing?
Some told me to get loan from spore banks as interest rate is lower there between 2-3%, but lotsa restriction such as, minimum size of unit must be at least 48sm, then need to be radius of 15km within CBD.. and max 70% finacning...

in malaysia, i did checked with cimb n maybank.. interest rate about BLR -1.8%, though interest higher but lesser restriction..

whats your type of financing?

y buying aussie house ? if u r moving oversea, ok. if ur purpose is to make money, land your money in malaysia better

Hi, OCBC oso offer AUS oversea property financing, Only offer property in Melbourne, Sydney and Perth residential properties.

Margin of finance is up to 70% of the market value or up to RM 1 mil whichever lower. Loan tenure can up to 40 years or age 70 whichever come earlier.

Nice to know OCBC bank provides financing for property in Melbourne!

Taken from my phone at nite. Not much development.


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Let me just stop you right there and just STOP AND FORGET about this idea IMMEDIATELY. Just do a simple google on off the plan property purchase in Australia and you'll find hundreds of reasons why you shouldn't do it. But in a nutshell, this is what you need to know.

1) Foreigners buying in Australia are only allowed to buy new properties, i.e. off-the-plan properties.
2) Developers are selling off the plan properties at a future price, i.e. the price at the estimated completion date, not the current price. Which means you are doomed to lose money when you buy an off the plan properties. Just google and see cases of people not being able to even secure loans after the building is completed. I.e. you bought the unit for $600k and at completion, the bank value it at only $550k, and you'll need to scramble for the $50k gap.
3) If the development does get completed (That is a big if as A LOT of big developer goes busted half way and you have no way to claim your money back), you see a lot of cases where the finishing is different from the actual spec, i.e. the floor space is smaller, ceiling height is lower, floor plan get changed etc.
4) Because of point 1, the off the plan market is different from the REAL Australian market. In one sentence, it is the inflated Chinese market, and a lot of them just need a channel to siphon the money out of China so price is secondary concern.
5) Due to point 2 and 3, you'll see a lot of people selling at completion, and it is sold urgently at a lesser price.

There are obviously exceptions and it is still possible to find good purchases. But if you are not familiar with the market, it is a pure speculation with very very high risk. So again, STOP NOW!!

i've only been to Melbourne once during my uni years... way way back, what's your opinion on the location of this development by the way?

can a malaysian take a loan there if he has a valid work permit

Sorry bro, I not very sure.

My friend says ok only la. Not super prime.

Recommend Upper West Side if you got too much money. BTW, I am no agent just a keh poh, becos my friend bought there (UWS).

Otherwise dont waste your time.

super prime comes with super high price tag

too much money is how much?

Any Sifu familiar with Aus property?
I am looking to invest or send my children for study. So kind to buy a house there.

My uncle stay in Perth where the place are much quiet & mostly chinese. House are cheaper than Sydney or Melbourne.

How about Melbourne price now? I prefer landed or townhouse villa. Please advised !!

Good advice
Plus upon completion, you can ONLY sell Australian properties to Australia citizens and/or Australian PR.

Personally, I thought Fulton Lane's location is pretty good.

You have the Victoria market just beside it, offering cheap groceries. Cheaper than the two big supermarket chains, Safeway and Cole anyway.

Then you can easily get on the tram to go down to Swanston street, where there are a lot of happening going on.

Then again, these are just what I think and like about the place.

1. There are lots of rules here, but foreigners are not restricted to just off-the-plan properties, depending on use and whether it will be rented.
2. That is possible, but the ones I've recently looked at was on par with completed ones. Depends on your luck, if the market drops after you had bought, then you will be under water, but that's not the fault of the developer.
3. Developers must be able to sell x% off-the-plan before the bank will finance the project. This basically safeguard the project. As for variations in the final product, the developer is allowed some variations and this will be written in the contract.
4. Don't think Australian properties are being bought only by the Chinese.
5. There are very few flippers here. Most buy for investment or for own use.

Agents charge between 8 to 9% (+10% GST) of rent as management fees. They will also charge 2 weeks rent as leasing fee, then charge $100 or so for inspection, etc. Any maintenance issues, they will organise (usually their own contacts) to attend, and this can sometimes be expensive. All these fees will make a dent to your gross rent :-( and of course final yield. At present due to tight rental conditions, this is bearable as the rental income is high. This is also helping as capital appreciation is not that fantastic. With the interest rates dropping, I can see first home buyers market hotting up. Not so the rest of the market.

My two cents worth...

What is your budget? Which city are your kids likely to go study? Perth properties are not that far behind Sydney/Melbourne. Remember Perth is still a very car dependant city as the public transport is a little lacking. If your kids are required to take a bus/train, then this would be a consideration when choosing a property. With any cities, the cheaper the property is, the further out of the CBD it is.

Landed property. Are you expecting your kids to look after the yard/garden? There will definitely be more that can go wrong or require maintenance. Labour is expensive with most trades charging a call out fee, just to come and take a look before they even do the work. Usually between $75-$100.

Villas/townhouses slightly better.

Apartments would be best BUT you can end up paying lots in strata fees.

So, there are good and bad with them all.

I'm keen on aussie properties too but no bullets..MOF is low at 70+%..need to have AUD 90k for AUD 300k property...difficult for now..

Reason to invest: to diversify from Malaysian properties..

there is a superbike shop in front of tower 2 luckily the council there is quite strict of noise pollution

if in Malaysia sure rempit every nite and every weekend

they have another promo last month for this project... last i checked only 20% left in Tower 2.. Tower 1 sold out..

get some free electrical appliances + interest on the 10% deposit i believe...

This post has been edited by seather: Jul 9 2013, 05:29 PM

Malaysian Buyers beware; dont get conned.

Melbourne apartments facing glut; some apartments are current selling at lower price than one / two years ago.

I Do have something in melbourne for sales care to find out more.

Melbourne apartments good rental yield but bad for capital appreciation. I know as my apartment's value has declined rm500k so far. But it's for staying and no loan on it so who cares.

Could only buy new ones a couple of years ago. Expensive.