Hello,
I have header from few of my friends, That Banks in HongKong do fund property in Australia.
Is that true and how can it happen?
Lets nail this down together.
Thanks
Bank's in HongKong funding AU Property ?
[Deactivated] on 08/02/2014 - 13:07
Comments
Haven't quite sussed this one out but I mean wouldn't it be nice to find a mortgage rate that's a fair chunk cheaper than what you can get here.
Oh I've checked out HSBC in HK through an acquaintance that work for a branch there and said it can't be done…I haven't pursued this further since then.
Someone I know got a substantial commercial property portfolio here and in NZ completely funded by a private bank in Japan at 3%…the catch is, the bloke went to uni with the son of someone pretty high up in a bank. Back to your original question, maybe this is a case of who you know etc etc.
I think it is still available, you need a right contact(s) in HK i.e. Accountant and Broker and proof of employment.
Once you have the above it will turn in your favor.
There are no foreign ownership restrictions on property in Australia. The restrictions were removed when Rudd was PM. Our property market is party propped up by foreign investors which makes it more and more difficult for those entering the housing market.