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Thread: Minimum wage in Australia is just under $18 AUD and pty prices in cheaper than here

  1. #1
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    Default Minimum wage in Australia is just under $18 AUD and pty prices in cheaper than here

    cost of living is damn high in sydney and melbourne but the property prices are lagging behind singapore. it is a welfare state and minimum wage is hovering at just under $18 AUD ($22 SGD). A lorry driver working 8 hours a day 6 days a week gets paid $3-4k AUD which is $4-5k+ SGD and that is their minimum wage. Regular bank deposits are also paying as high as 5% per annum even though their mortgage interest is as high as 5-6%. Inflation is about 2% in australia which is less than in singapore.

    Those singaporeans thinking of buying a home in australia and getting 7% rental can only look into new homes coz second hand properties are out of bounds to foreigners. do be mindful that the strata levy (equivalent to our maintenance) is very high in australia and property agents collect 5% for manage your property.

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    Quote Originally Posted by Regulators
    Those singaporeans thinking of buying a home in australia and getting 7% rental can only look into new homes coz second hand properties are out of bounds to foreigners. do be mindful that the strata levy (equivalent to our maintenance) is very high in australia and property agents collect 5% for manage your property.
    wah piang..


    there is no free lunch in this world after all..
    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

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    but the quality of life damn good in sydney and melbourne, office workers knocking off work at 4.30pm, many australians buying holiday homes in the mountains or beaches short drive away from city. best of both worlds - city and nature. Those with $2+ million cash can park $1million in the bank, use $500k to buy a property to live and another $500k to buy a property to rent, passive income of $80k AUD a year, can retire liao

    Quote Originally Posted by roly8
    wah piang..


    there is no free lunch in this world after all..

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    Aussie is a renter nation. However as asian population is growing, home buying appetite is growing. The living cost is so high, higher than sg. Its hard for them to make deposit on a home. Renting is the only alternative for many people, so the demand is high. Why putting deposit on a home? When u can use the money for a beer... Right mate?

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    I like properties in Melbourne. Been there twice and everytime regret coming home too early..

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    With the high wages I think paying off a pty fo aussies is no issue. From what I know Sydney city area facing apartment shortage.

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    Btw those thinking of buying to flip can forget it coz pty speculation not in their blood n you can only sell to an aussie after buying. Pty buying in Australia is only viable if you thinking of living in Australia. Remember that new launches are usually marked up by 20%

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    Quote Originally Posted by Regulators
    but the quality of life damn good in sydney and melbourne, office workers knocking off work at 4.30pm, many australians buying holiday homes in the mountains or beaches short drive away from city. best of both worlds - city and nature. Those with $2+ million cash can park $1million in the bank, use $500k to buy a property to live and another $500k to buy a property to rent, passive income of $80k AUD a year, can retire liao
    thx for sharing. indeed good lifestyle. aussie are able to pull it off so well. salute to them.

    and living near the nature is a dream come true
    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

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    Quote Originally Posted by Regulators
    Btw those thinking of buying to flip can forget it coz pty speculation not in their blood n you can only sell to an aussie after buying. Pty buying in Australia is only viable if you thinking of living in Australia. Remember that new launches are usually marked up by 20%
    Not for flipping. Rental income quite sweet. Especially those inside CBD. Freehold and low quantum. Studio unit of about A$300,000 can rent about $300 per week. Works out to be about 5%...

    Better than SG properties...

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    Quote Originally Posted by cnud
    Not for flipping. Rental income quite sweet. Especially those inside CBD. Freehold and low quantum. Studio unit of about A$300,000 can rent about $300 per week. Works out to be about 5%...

    Better than SG properties...
    after deduct off maintenenace fee & agent 5% management fee?
    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

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    Only one new development near cbd i know of called central park near Sydney uni , one bedr going for $5xxk to 6xxk aud, not cheap for new developments. Heard Fraser has a stake in central park.
    Quote Originally Posted by cnud
    Not for flipping. Rental income quite sweet. Especially those inside CBD. Freehold and low quantum. Studio unit of about A$300,000 can rent about $300 per week. Works out to be about 5%...

    Better than SG properties...

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    Just to share the aussies view the high mortgage interest as a good thing. The mortgage interest is Tax deductible n they call it negative gearing. For some the interest offsets against so much of their regular income that it could become negative income saving them on taxes. They use their bank deposit interest to finance their mortgage instead a rather smart thing to do.
    Quote Originally Posted by roly8
    after deduct off maintenenace fee & agent 5% management fee?

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    my sister got 3 landed properties in melbourne...2 rented out 1 for own stay...they left spore more than 10 years ago if they stayed here most i think hdb or condo......eventhough we are close i choose not to visit her cos its depressing to stay there in a big house with fruit trees and come back to a hdb flat with a lot of sound effects....neighbours...karang guni man...etc etc etc...but sigh! spore still home for me..

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    Quote Originally Posted by Regulators
    Only one new development near cbd i know of called central park near Sydney uni , one bedr going for $5xxk to 6xxk aud, not cheap for new developments. Heard Fraser has a stake in central park.
    I got one at harold park, 1 bed 50m2 at 545k.

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    Quote Originally Posted by Regulators
    Only one new development near cbd i know of called central park near Sydney uni , one bedr going for $5xxk to 6xxk aud, not cheap for new developments. Heard Fraser has a stake in central park.
    I was talking about Melbourne. Near to RMIT, U of Melb, CBD.

    Most liveable city in the world. Swanston St is their Chinatown and many Asians are there.

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    Quote Originally Posted by radha08
    my sister got 3 landed properties in melbourne...2 rented out 1 for own stay...they left spore more than 10 years ago if they stayed here most i think hdb or condo......eventhough we are close i choose not to visit her cos its depressing to stay there in a big house with fruit trees and come back to a hdb flat with a lot of sound effects....neighbours...karang guni man...etc etc etc...but sigh! spore still home for me..
    i can understand how u feel
    indeed depressing
    I took the road less traveled by, and that has made all the difference. - Robert Frost quotes (American poet, 1874-1963)

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    U definitely paid a premium but rental yield for that area should be gd.
    Quote Originally Posted by indomie
    I got one at harold park, 1 bed 50m2 at 545k.

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    I find the pace in Melbourne slower than Sydney. I like the area around flaggstaff garden near the Victoria market
    Quote Originally Posted by cnud
    I was talking about Melbourne. Near to RMIT, U of Melb, CBD.

    Most liveable city in the world. Swanston St is their Chinatown and many Asians are there.

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    its a beautiful city...more asians than australians.......even the banglas are going there...

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    Quote Originally Posted by Regulators
    I find the pace in Melbourne slower than Sydney. I like the area around flaggstaff garden near the Victoria market
    I considered flagstaff place and vision apartment in melbourne, but I finally decide on sydney purely on rental potential. I stayed at freshwater place just opposite crown casino, it was such an amazing apartment. Melbourne is more fun than sydney. But, my memory of tampines HDB flat is not so bad either. What make a house a home is the people around us.

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    Quote Originally Posted by indomie
    I considered flagstaff place and vision apartment in melbourne, but I finally decide on sydney purely on rental potential. I stayed at freshwater place just opposite crown casino, it was such an amazing apartment. Melbourne is more fun than sydney. But, my memory of tampines HDB flat is not so bad either. What make a house a home is the people around us.
    very true...

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    Quote Originally Posted by indomie
    I considered flagstaff place and vision apartment in melbourne, but I finally decide on sydney purely on rental potential. I stayed at freshwater place just opposite crown casino, it was such an amazing apartment. Melbourne is more fun than sydney. But, my memory of tampines HDB flat is not so bad either. What make a house a home is the people around us.
    Lovely place. Saw the ad on Vision as well. Tall tower!

    Docklands also potential!

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