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News and Discussions in Pacific

Buying Property in Australia and Home Inspection Nightmares

by Alicia Hill 21-February-2016

Why Property Inspections is the Most Glaring Omission in Australia’s Consumer Laws   Property inspection is unregulated in Australia. Becoming a property inspector, therefore, involves nothing more than calling oneself a p...

Global Investment Strategy - Foreign Investment In Australian Real Estate

by Delan Cooper 02-February-2016

Why Australian Real Estate is a Smart Global Investment Strategy   With global stock markets in turmoil and several major corporations losing money, where will smart global investors put their money in the coming years? Australian real estate is quickly becoming one of the best investment options available. The following information discusses a few of the reasons Australian real estate is curre...

A prison cell could be your new home, if you're a foreigner illegally buying property in Australia

by Investment Property News 07-December-2015

Foreigners can be jailed and will pay tougher penalties if they are caught buying properties illegally in Australia, under a new law.    Those who breach Foreign Investment Review Board rules that govern property purchases by foreigners may now have to pay up to $135,000 (US$98,919) or spend three years in prison - or both!   Previously, the maximum penalty for offenders was only $90,000 (US$65,947). Meanwhile, companies ...

Australia gets tougher with foreign property buyers, 500 properties under scrutiny

by Investment Property News 01-October-2015

The Australian government has initiated investigations into over 500 properties in Australia bought by foreigners, suspecting them to be illegal transactions. More than 1 billion Australian dollars (US$713 million) worth of properties are now under the spotlight.    The government recently served divestment orders on five properties. The owners — who come from Singapore, Indonesia, the U...

New Zealand's rural housing markets to boom, following immigration policy changes

by Investment Property News 12-August-2015

New Zealand's already-pressured rural housing markets are likely to be boosted by new immigration policies, under which migrants who say they are prepared to live and work outside Auckland will get 30 points credited to their application from November 1, up from the previous 10.    A skilled migrant needs 100 points to obtain a residency permit. Points for immigrants on entrepreneur work visas will double to 40 if they set up business outsid...

Australian banks restrict lending amid housing bubble fears

by Investment Property News 02-July-2015

Australia’s major banks have tightened underwriting rules for property investors amid growing fears of a housing bubble, after the Australian Prudential Regulatory Authority warned that Sydney's housing bubble could destabilise the financial system. Paying heed ...

Foreigners buying properties in Australia illegally face jail term and fines

by Investment Property News 06-May-2015

Stepping up pressure on foreigners suspected to have bought properties illegally, the Australian government has told buyers to come forward and disclose their unlawful transactions by November, or face three year jail terms plus whopping fines.  Under the new rules, foreigners who have bought properties illegally in Australia face fines of A$127,500 (US$100,050) and up to three years jail for individuals, and fines of more than A$637,500 (US...

Investors pricing out home buyers in Australia

by Investment Property News 23-January-2015

Investors are taking half of all mortgages issued to home buyers in Australia and are pricing middle class and young families out of the property markets, credit ratings agency Fitch concludes. As a result, the number of first-time buyers entering the market hit record lows in 2014.   “The growth of the housing investor market has largely been at the expense of the first-time buyer. There is little doubt that first-home buyers are being priced out of the market,” accor...

Australia - real estate loans to investors at record high now under scrutiny.

by Investment Property News 14-December-2014

In yet another step to curb steeply rising housing prices, the Australian Prudential Regulation Authority (APRA) has asked banks to limit loans to real estate investors. They must also follow stricter guidelines to ascertain a borrower’s ability to repay the mortgage. ...

High immigration levels prompt New Zealand to continue lending restrictions

by Investment Property News 16-November-2014

Against expectations, the Reserve Bank of New Zealand (RBNZ) is not lifting restrictions on high-debt lending, despite a housing market slowdown.    In its November financial stability report the RBNZ noted that restrictions on lending to households with low deposits were working, but added that now was not the time to drop them.   "There remains a risk of a resurgence in house price inflation especially with the strong immigration flows. Consequently we don't...

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Title: Property news in Pacific

Description: The latest Pacific property information, news, and investment movement.