Whilst many Aussies choose to live abroad for travel, career or family choices, the past year has seen many expats flocking home to Australia from Europe, US, UK and Asia to enjoy living relatively normal lives, despite a global pandemic. With Australia continuing to have one of the world’s lowest infection and mortality rates from COVID-19, there’s no wonder why around 398,000 Australians have returned to our sunny shores since mid-March 2020 [1].
The Australian government has continued to implement safety measures and has invested more than $3.3 billion into four separate agreements to supply Aussie’s with safe & effective vaccines [2].
What Does This Mean for Aussie Real Estate?
With 64% of expats stating that the global lockdown had influenced their decision to buy a property in their home country[3], this has obviously affected the demand for real estate in Australia…
Sean Hughes, director of one of Australia’s top performing real estate offices, Realmark Coastal, recently reported a dramatic increase in the number of buyers bidding on unseen properties in an effort to beat future price hikes. “Quality Perth properties are still in high demand and people are increasingly comfortable with buying homes they’ve only inspected online and we’re still seeing offers above market price and fielding multiple offers on residences.” Sean says. [4]
Why Is Altum the Ultimate Expat Choice?
Altum Owner Builder, Michael Lawson, designed the development with his parents in mind; “If another lockdown comes, I would like to know my parents are not only safe, but thriving in a luxurious setting where they can still exercise and enjoy their lifestyle with minimum disruptions.”
Because of this, Altum is the epitome of luxury… tailored to suit those who value a “lock and leave”, maintenance-free lifestyle, all whilst being less than 450m from one of Perth’s best beaches, Scarborough. The over 55’s development boasts an indoor heated-pool, concierge, gold-class style cinema, gymnasium, yoga & Pilates studio, a massage/treatment room, lounge, private dining, wine room and so much more.
However, the remaining 43 available apartments are being snapped up fast by Aussies at home and overseas. Currently, stamp duty rebates of up to 75% are still on offer until construction starts, alongside no exit fees with you sign on to a strata-title apartment.
Don’t Wait It Out…
The McGrath Report 2021, which analyses trends in the Australian property market, predicts even further increases in Aussie property demand for the future. With many expats expected to return home for the benefits of the post vaccine rollout [5].
While the world hopes a vaccine will restore a sense of normality, perhaps it’s also a window of opportunity to consider what you envisage the future may look like for you and your family. No matter how far or wide you roam, we look forward to welcoming you back home.
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[1] Media Release: 16 October 2020 DFAT More flights helping Australian return
[2] Australian Government Department of Health 17 February 2021 Australia’s vaccine agreements | Australian Government Department of Health
[3] Research Article: Knight Frank June 10,2020 _COVID-19 sparks expat re-evaluation