BUY IN GREECE®

955 King Georges Road, Blakehurst NSW 2221 Australia

The 6 things you need to consider when buying overseas

  1. Location

  1. Finance options
    Accessing finance is key in any property purchase.

“Australian banks are hesitant to lend to people who are wanting to buy property overseas as there are higher risk elements,”

 

  1. Taxation
    Before you buy an overseas property, you need to consider the tax implications. As an overseas investor, you will need to declare all your income, including rental income and/or capital gains from the property to the ATO.

You may also be required to pay tax on your rental income in the country where you own the property.

Consult a professional tax advisor to determine your situation, or head to the ATO website to find out more.

 

  1. Stability
    Understanding how stable the country is economically and politically is another big thing to consider before purchasing an overseas property. You don’t want to get yourself into a situation where you’ve bought a property but can’t sell it, or, you sell the property but have trouble getting the money out of the bank.

 

  1. Get a feel for the place
    Before making any final decisions, visiting the property to get a feel for the place.

 

  1. Rental options
    If you’re investing, you need to find out whether there are any restrictions for renting the property out.

Another thing you may need to do is find someone to manage the property. 

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