Australia city home prices rebound in January, Melbourne in front

SYDNEY (REUTERS) – Australian home prices rebounded in January with Melbourne boasting especially strong growth, a counter to speculation the market was at risk of crashing after a rapid run-up last year.

Figures out on Monday (Feb 1) from property consultant CoreLogic RP Data showed its index of home prices in the combined capital cities rose 0.9 per cent in January, compared to December when prices were flat. Continue reading

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Australia unveils new foreign investment rules

Australia introduced new investment rules yesterday aimed at cracking down on foreigners unlawfully owning residential properties and improving scrutiny on acquisitions of farmland from overseas, reported Reuters.

In May, the government unveiled plans to fine and even jail foreigners who violate rules allowing them to purchase new residential properties, and not existing homes. Continue reading

Melbourne: Investing in the world’s most liveable city

Higher living standards, top quality education and a more favourable exchange rate are helping to drive Melbourne’s property market.

By Romesh Navaratnarajah

If you happen to flip through the newspaper, you would have noticed many advertisements marketing residential properties in Australia, particularly in Melbourne.

The high demand for housing units in Australia’s biggest-growing city comes from the increasing number of Singaporeans residing there. Continue reading

Australia’s proposed property fees unlikely to impact Singaporean buyers significantly: analysts

SINGAPORE: Australia is planning to introduce fees for foreigners who buy residential properties there. But some property watchers say the impact on Singaporean buyers is unlikely to be significant.

Buying properties Down Under may soon cost you more if proposals to charge extra fees on foreign buyers are approved. Continue reading