Greedy Investors Wants to Increase The House Prices by Keeping Vacant Properties in Sydney

LSidhu1102161 on 28/03/2016 - 15:48

Overseas property investors are not giving properties on rent; so by that way they can increase the property prices in short period of time.

So if any body wants to buy property in Sydney please do not buy for 1-3 years in Sydney.

As interest rates are low so investor take that advantage that Australian people will buy on higher process but for long term we have to pay more money as the market is on the peak at this moment.

I am living in parramatta and I have noticed that construction companies are building properties but they are not coming in the market for sale as you can see only the rentals boards on the building but will not see any tenants coming out from the building . So be careful this happened same in perth and you can see the results where the perth property market is today. People bought for gold prices and now selling for silver prices in perth.But from last month perth property market is better and heading towards positive side.

Tips:

  1. use property guide app from comm bank and check property price

  2. Buy property in Melbourne: craigiburn, wallan side as Vic government is planning to build industrial area near craigiburn and ring road to Geelong

or

second option is perth as perth market is very slow at the moment: areas like Beckenham near east Victoria park(11km from Cbd, near WA's biggest shopping centre, upgrading train station) or Forrestfiel (2 billion project airport - Forrestfield project, close to highways for north and south travel, 5-8 minutes to airport

3 read this article and judge yourself before taking any property related decisions as we are heading on American style property crash highway

http://m.smh.com.au/nsw/thousands-of-empty-homes-adding-to-s…

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Comments

  • darren870 on 28/03/2016 - 16:20
    +6

    Except the property market in Perth is tied to Oil and other natural resources. Which have all been on the decline…

    You can't make a good comparison between Perth and Sydney.

    • GameChanger on 28/03/2016 - 17:40
      +3

      I don't even know how Perth relates to this at all.

      The mining money is well and truly gone for the short term but prices have remained quite the same. There is hardly any bargains even though its a buyers market.

    • Sidhu1102161 on 31/03/2016 - 01:30

      You are 100% right There is no comparison between perth and Sydney if you are a investor but if you are looking a house to live then perth and Melbourne are much better cities then Sydney

  • dasher86 on 28/03/2016 - 16:52

    Get squatters in on the empty homes.
    After a period of time they get squatters rights.

    • ms_caz on 29/03/2016 - 14:33

      Do you mean "adverse possession"? "In order for a person to successfully claim title to a property over the true owner, and extinguishing their title at the same token, a person must gain uninterrupted possession of a property for 12 years or longer in Queensland and New South Wales. While in Victoria for a person to be successful in their claim of adverse possession, they must have stayed at the one place for 15 years or more." http://www.findlaw.com.au/articles/5155/can-a-squatter-claim…

      My understanding is that the laws in relation to "squatters rights" are a lot stricter in Australia (as above) than they reportedly are in USA/UK etc.But that's just a google result - i'd be happy to find out the situation in Victoria if you have actual factual correct information.

  • tomleonhart on 28/03/2016 - 16:58
    +8

    How can you label investor "greedy"? isnt the point of investing = get as much money out of your capital as possible ?

    • gringo on 29/03/2016 - 01:05
      +1

      In times of scarcity there have often been anti-hoarding laws. Cartel-like behaviour is also commonly outlawed.

      Private profit has always been balanced against the greater public good. In this case - the loss of Sydney as a viable city for the majority of Australians.

    • Sidhu1102161 on 31/03/2016 - 01:39

      Are you are working in a financial sector mate? That's why you do not like the truth.
      Overseas investors are main responsible for this property crises in Sydney and its their greed that now normal wage families can not afford to buy property in Sydney

      • tomleonhart on 31/03/2016 - 06:13
        +1

        Don't put word in my mouth. Since when did I say I like it ?

        Like I said if I was to invest I'd like to get as much money back for my capital.

        Do you think I can afford a place in Sydney ? No I can't. I bought 40kms west of Sydney, yes, not even parramatta. But again I won't blame it on someone else fault that I can't afford a place in Sydney.

        Each to their own and other people owe me nothing. So if they purposely lose money by keeping the place vacant to inflate the price, they're taking the gamble and we are no one to judge.

  • zolinger on 28/03/2016 - 18:35
    +5

    This doesnt make sense… why would I as an investor buy a house to keep it vacant.

    • Ughhh on 28/03/2016 - 18:43
      +2

      The investor might have bought the house to hide/legalise black money. They are so rich that rent money isn't even worth it.

    • GameChanger on 28/03/2016 - 18:46
      +1

      Yep they're the different kind of investor- usually really rich and happy if there is any capital gains.

      You be surprised how many $10m+ homes are left empty as many don't want the house to be 'ruined' by offering lower rent than it should command.

    • Almost Banned on 28/03/2016 - 20:46
      -2

      Because as an investor in the Australian tax system you know that minimising your rental income means maximising your deductions and your real money comes from capital gains which is heavily discounted once you hold onto the property for a year.

      • derpdeder on 29/03/2016 - 06:56
        +1

        If the property is not available for rent, you cannot claim the deductions.

        CGT discount isn't available to non-residents.

    • Sidhu1102161 on 31/03/2016 - 01:40

      Please click on the link and read the article from smh

  • Ash-Say on 28/03/2016 - 21:49

    ok don't buy for 3 years in Sydney. I will meet you after 3 years to find if you can afford to buy property.

  • Candour on 29/03/2016 - 07:29

    sydney may become oversupplied like melbourne; rich fools wo have too many US$ and not enough sense might buy a house with 'hot' money from overseas. then they leave it vacant as a lifestyle choice. like the rich and famous everywhere who are not greedy but just have too much money on their hands. or they use it on holidays. or not. that does not make they venal or exploitative. the whole property game is rigged. governments take their cut. developers. agents. lawyers. if some mug buys one property and leaves it empty then he is a greater fool. he alone cannot shift rents. check the gold coast and read the history of speculation in oz and the US and the UK. the same lessons apply. parramatta is not Sydney. each micro market is different.

  • negger on 29/03/2016 - 08:18

    Many of the "empty" houses could be Airbnb's?

  • burningrage on 29/03/2016 - 09:24

    I stopped reading right after the word "Greedy".

    By that definition, then we (Ozbargainers) are all greedy because we want to max our value for our money spent.

    • Sidhu1102161 on 31/03/2016 - 01:27

      If you stopped reading after greedy word then how you know that this topic is about money

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