Foreign Buyer Fee Unlikely to Reduce Overseas Demand for Affordable Sydney House and Land Packages
Introduction of the upcoming foreign buyer fee is not an effort to discourage foreign investment and home buyers from overseas are still welcome in the market. Australian home builder Allworth Homes (www.allworthhomes.com.au) will continue to be a leading partner with all foreign buyers, including Chinese, Indian and Korean families interested in building a new home in the Sydney area.
SYDNEY, May 28, 2015 /PRNewswire/ -- Beginning December 1st, new Federal policy requires foreign real estate buyers to pay a minimum $5,000 fee for residential real estate and rural land acquisitions. This includes those foreign buyers building a new home or looking for extremely desirable and still affordable new land and house packages in Sydney, Illawarra, Newcastle and Wollongong.
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This foreign buyer fee is not anticipated to reduce demand for home builders in Sydney that serve international clients. Building a new home remains the best way for foreign buyers to enter the real estate market in Sydney and NSW. The advantages include:
- Low maintenance and energy efficient designs that optimise long-term costs of ownership.
- Location in vibrant new master planned communities that offer convenient access to parks, retail and services.
- Improved value for investors looking to resell.
- Opportunities to customise the look and design of the new house build, to ensure a home that is perfect.
Allworth Homes has earned an international reputation for expert and courteous service for foreign home buyers, particularly for Chinese, Indian and Korean families in need of knowledgeable and friendly support in their search for house and land packages in Sydney. "We enjoy the opportunity to assist families from abroad successfully navigate the NSW new home marketplace," says Allworth Homes Managing Director Stephen Thompson. "It's very rewarding to explore land and house packages in Sydney with them and build a new home together."
While there were initial concerns the new fee policy would be an effort to discourage foreign investors from building new homes in Sydney and elsewhere, it's now understood the adjustment is aimed at effectively enforcing existing policies and properly funding the Foreign Investment Review Board, which oversees applications from temporary residents, foreign residents and short-term visa holders.
Extremely desirable location and a favourable investment climate ensure that Sydney and its surrounding communities will remain a destination for foreign real estate buyers, now and in the future. See http://allworthhomes.com.au/our-homes
Media Contact (Allworth Homes – located in Sydney, Australia)
Kathryn Price
Allworth Homes
0406 047 067
Email
About Allworth Homes
Allworth Homes specialises in residential project home building. Allworth builds for customers in NSW looking to build in new development areas or to knock-down an existing home and re-build on their land. There are a variety of single- and double-storey designs customers can choose from, catering for a number of different sized blocks of land. Established in 1978 and recognised as one of the most efficient builders in the state, Allworth Homes prides itself on a reputation based on superior quality workmanship, exceptional materials and leading customer service.
SOURCE Allworth Homes
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