Property Mart

17/11/2023

Thinking of buying residential real estate in Australia?

Here are 3 key steps to work through so that your journey is as smooth as possible.

1. Determine budget (cash in hand + borrowing ability). Do bear in mind that foreign buyers (non-PR and non citizens) need to also bear the Foreign Buyer application fee (FIRB) and the Foreign Buyer Tax (FBT) on top of the stamp duty. These components are not financed by the mortgage companies. As local banks in Australia are no longer allowed to lend to foreigners, financing needs to be either from self / local bank in the native country or local private lenders based in Australia.
2. Identify location of choice. Australia is big and travel distances can vary.
3. Determine cash flow requirements if you are not planning to live here (now). This can be in the form of long or short term rental (depending on the property). You would also need to be aware of the ongoing rates that are applicable such as water, council and body corporate (if you are buying a strata property) rates.

Sounds complicated?

No worries, we are here to assist.

Just drop me a line and let's have a chat!

29/05/2023

On Tuesday, the Victorian Treasurer announced the measures proposed for the property industry in the state budget. It is important to note that these proposals are subject to approval by the Victorian Parliament and the passing of legislation before they can be implemented. The following measures specifically target property developers and investors:

Temporary Land Tax Surcharge:
Starting from the 2024 land tax year and lasting for ten years, a temporary land tax surcharge will be imposed in addition to the existing land tax.

General Land Tax Rates:
For taxable landholdings between $50,000 and $100,000, a flat surcharge of $500 will apply.
For taxable landholdings between $100,000 and $300,000, a flat surcharge of $975 will apply.
For taxable landholdings over $300,000, a flat surcharge of $975 will apply, along with an increased land tax rate of 0.10 percentage points.

Trust Surcharge Land Tax Rates:
For taxable landholdings between $50,000 and $100,000, a flat surcharge of $500 will apply.
For taxable landholdings between $100,000 and $250,000, a flat surcharge of $975 will apply.
For taxable landholdings over $250,000, a flat surcharge of $975 will apply, along with an increased land tax rate of 0.10 percentage points.

It is important to note that your primary residence will be exempt from these surcharges.

Absentee Owner Surcharge Rate:
For the 2024 land tax year, the absentee owner surcharge rate will increase from 2% to 4%. Additionally, the minimum threshold for non-trust absentee owners will decrease from $300,000 to $50,000.

Land Transfer Duty (Stamp Duty) for Commercial and Industrial Properties:
Starting from July 1, 2024, stamp duty for commercial and industrial properties will be eliminated and replaced with an annual property tax. The tax rate will be 1% of the property's unimproved land value and will only be payable ten years after the transaction.

For further information on the market situation or to explore acquiring the right property in Melbourne for your portfolio, do reach out to me.

Best wishes, Ernest Towle.

25/07/2022

Well located 1bedroom apartment in the heart of the Melbourne CBD on a high floor offering privacy, exclusivity, and city lifestyle!

Unobstructed views from this contemporary designed, corner unit with loads of natural light, this unit is well connected and steps away from the major amenities. Within the free tram zone, convenience is second to none!

Presently tenanted, you can choose to either continue with the tenancy or move in.

The Australis offers a 7-day concierge service, heated indoor pool and fully equipped gym.

Click here to find out more: https://www.realestate.com.au/property-apartment-vic-melbourne-139795527

21/07/2022

13/04/2022

🔴 Live Webinar: Seeking a Mortgage from a Broker/Lender for Your Australian Property Purchase. Insights and Thoughts from a Veteran Loan Specialist

🗓️ 16 April 2022 (Saturday)
⏰ 7.30pm (AEST) / 5.30pm (KL/SG/HK) / 4.30pm (Jakarta)

Guest Speaker: Guoliang Aw Yong, Business Development Manager of AAA Financial Corporation Pty Ltd

Moderator: Ernest Towle of Jalin Realty Australia

👉🏻 Register Now - bit.ly/jalinwebinar160422

06/04/2022

A fantastic sharing session on mortgage financing for foreign buyers for Australian properties with Monique Jiang of QA Finance Pty Ltd.

Monique delved into the intricacies of sourcing such financing, shared some of the challenges commonly faced by buyers and why working with an understanding and resourceful mortgage broker is key to actualize your mortgage requirements either in financing and refinancing your mortgage.

Her passion for helping her clients is what makes me and us at Jalin Realty Australia happy to work with QA Finance Pty Ltd to help foreign buyers access real estate products with greater confidence.

Click here to watch the interview: https://www.youtube.com/watch?v=Uu-G0B_CbdI

01/11/2021

30 minutes by train to Southern Cross Station in downtown Melbourne.

Close to Melbourne and get more bang for your $.

Come check out this large and spacious home!

The next property Adrian Chen and I from Team Jalin Realty Australia are representing.

11 Fishbone Avenue, Werribee is going for auction on November 20th @ 11am.

Don't miss out. Come check this large and spacious home offering more bang for your $!

Listing can be found here: https://www.realestate.com.au/property-house-vic-werribee-137698378

Watch the walkthrough here: https://youtu.be/-6tiH1XYs_U

16/10/2021

It's going to be a great sharing.

🔴 Live Webinar: Melbourne Apartments - City Living Redefined

🗒️ 16 October 2021 (Saturday)
⏰ 2:00pm KL/SG (GMT+8) / 5:00pm Melbourne (GMT+11)
👉 Register Now - https://bit.ly/FB1610webinar

💥 Limited Time Offer!
✅ NO Foreign Surcharge
✅ NO Local Stamp Duty
✅ NO FIRB Fees
✅ FREE Window Blinds

🏙️ 1,2 and 3 Bedroom Brand New Apartments overlooking Melbourne CBD, Port Philip Bay and the Yarra River
🚆 Located next to Melbourne's main transport hub - Southern Cross Station and in one of Melbourne's most walkable precincts based on proximity to transport, amenities, education, commerce and lifestyle pursuits.

05/10/2021

A chat with Fionna Chuah on Yarra Bend - a masterplan development located minutes away from the Melbourne CBD.

Listen in to hear 2 Malaysians talk about property, food and life in Down Under.

Insightful chat with Fionna Chuah of Glenvill on Yarra Bend.

Yarra Bend is touted to be the World's Most Liveable Suburb.

Tune in here to watch 2 Malaysians chat about this amazing development along with life, food and property.

As always, do drop me a note if you have any comments or if you are keen to find out more about this well integrated development where work, life and play come together harmoniously.

https://event.webinarjam.com/go/replay/340/8r213s4phg3tw87uo