Beach Side Properties
Investing in beach side properties is a lifestyle decision that many Australians appear to be making. The Australia’s strong economy has withstood the global recession being experienced by many OECD countries during 2001 and 2002 thus interest rates have remained stable in general in the last 5 years notwithstanding recent rate rises.
Prices have continued to been determined by two factors:
a) Proximity to city and
b) Proximity to coast.
The biggest beneficiaries were those who owned property in Melbourne’s inner or bayside suburbs, or on the beach side properties located close to the city.
One area in particular is the Bass Coast region of San Remo, which offers stunning island, ocean and bay views, with a cliff top outlook that affords an idyllic getaway opportunity for landlocked Melbournians searching for the serenity of a coastal town. Bay views, beach walks, wineries and the explosion of golf clubs and resorts strongly support the growth in interest for beach side properties.
The following are reasons why beach side properties are booming:
a. Families growing interest in owning beach front properties for holidays.
b. Easy freeway access and by-passes that reduce travel times.
c. Local councils support for tourism-based infrastructure.
d. Increasing housing level quality and new.
e. Development of resort style properties ready with family.
Appreciating population, tourism rental prospects, declining household sizes and rising incomes ensure that demand for dwellings constantly outpaces supply and prices continue to rise.
Investment options in these locations range from buying your own holiday house for your own personal use, to buying a holiday apartment which provides a year round rental return. If you hope to negatively gear your holiday house remember you can only claim tax deductions on the period the house was actually occupied by tenants throughout the year, a common mistake made by many aspiring investors.
Beach side property investment continues to attract plenty of Australian investors. This trend is set to continue as more and more people join the bandwagon attracted by the lucrative prospects that beach side properties offer. Most beach side properties like other real estate investments appreciate in value with time, this means that a timely and prudently done investment in this sector will afford an investor gainful returns for a long time.
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