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Visionary Investment Group

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07.01.2022 Welcome to one of the best waterfront releases of Royal Shores! Visionary Investment Group The Property GalleryErmington

05.01.2022 Policy Analysis Australia plans fees for foreign property buyer A proposal by the Federal Government is raised on February 25 to slug foreign buyers with addition application fees for each attempt at buying property. Fees of $5000 to apply to buy property of less than $1 million and $10,000 for every extra $1 million in the purchase price have been suggested.... The Treasurer of Australia Joe Hockey said a new register of foreign investors in both residential and agricultural real estate is also planning to set up, for calculating the total amount of foreign owner and their identification. Mr. Joe Hockey sees it as a very important guarantee for people of Australian. Moreover, fines of up to 25% of the value of the property if there is any breaches, and the property can be forced to sell. Any foreigners who buy Australian properties will be recorded, including agricultural real estate. The proposal has raised discussions and concerns over Australian media, properties investors and people who intends to own a property. However, it is generally accepted that fees of $5000 wont really slug foreign investors since the smoothly development and high rate of return in Australian real estate market. In fact, restrictions which only focus on foreign investors is not enough for reducing part of the market demand while this proposal is aiming to ease the short supply of the Australian real estate market. The essential cause of the shortage is that the pace of property developing and building is not as fast as the population growth and market demand increases in Australia. Therefore, eliminating part of the demand cannot solve the shortage plight fundamentally. It is believed that Australian governments proposal which plans to charge extra fee for foreign buyers and developers is hard to solve the key problem of Australian real estate market. CEO of Visionary Investment Group (VIG) Michael Guo believes the essential reason of high prices of Australian property is the imbalance between supply and demand. As a real estate operator, Mr. Michael Guo says the supply of Australian residential property is always in shortage. In the past 12 months, land price of Australian capital cities has climbed 6%, which is believed one of the reason that boost the property price. Thus, in order to solve this issue, Australian government should approve more planning permission, raise land supplement and enhance the residential density. Mr. Michael Guo also indicates that foreign investment is not boosting property market price and causing the property shortage. Although VIG is cooperating and managing a lot of real estate projects, buyers are not much from foreign countries. For example, Civic Plaza 88, a boutique serviced apartment developed by VIG, attracts many Chinese investors, but foreign buyers holds less than 20% of the overall proportion. Mr. Michael Guo says, Australian people are highly interested in property investment as well.