Rental property means land that is occupied by someone else other than the owner. The tenant pays monthly or quarterly payments to the landowner. Investing in rental properties can be profitable and can be a good start. The ones who invest also get incentives and deductions from the taxes, which is a really good thing.
A rental property can be rented or leased to a tenant who will be paying monthly or quarterly rent. It can be short-term or long-term depending on the tenant and the one owning the property. Rental property can be for various purposes like duplexes, apartments, etc.
With rental property, the owner gets to have more income than usual. It may not be very profitable from the beginning, but slowly you will understand the pros of investing in the rental property. Australia is a good place for investing in rental properties because it has a stable political condition and is a very attractive destination as well. Australia is the 13th largest economy in the world, making it more perfect for you to invest in rental properties in Australia. It is one of the most stable economic countries in the world.
Here are the top 5 suburbs in Australia where you can buy a rental property.
1. Sunshine Coast, Queensland
Sunshine coast allows developers new and exciting offers, which makes it a perfect suburb for buying land for rental property. There is an expansion of Sunshine Coast Airport, and it will include international flights as well. There will also be more than a $1Billion upgrade in the Bruce Highway, and the world’s largest health infrastructure will be built soon. Thus, this place would surely attract lots of people and is a perfect place to invest in rental property.
2. Eynesbury estate
Eynesbury estate is one of the growing suburbs of Australia. It is a perfect investment for rental property because 40% are families living there who are maturing, 14 % are established couples staying, and there are young families of 16%. Eynesbury is filled with natural beauty and is rich in Victorian history. There are many residential lots available, and you can simply decide to invest in one of them.
3. Bradwell Park
Bradwell Park is on the eastern side and is a good suburb to invest in. This suburb has a high demand in the market at today’s date. There are lots of investors who are planning to buy this suburb. The house price rose from $1.13 million to $1.16 million. This shows the high demand for this suburb in the market. This place can be a good investment because it has natural scenic beauty and sea, which means there will be lots of tourists who will be getting attracted to all these.
Not all suburbs will have scenic beauty; there are suburbs that have started to build high buildings and homes. There are lots of established people staying here. The suburb is family-friendly which means it is the perfect place for investing. This suburb offers good value for money, and it has been a hot property for a few years now. There has been a visible growth of 7.5% in housing property. Thus, you can invest in this suburb, it is perfect for rental property, as it has families and which means it can be a good housing property. You might gain a lot more than you expect.
People love to travel via boats. Manly is such a suburb where one can either take a boat or a bus from the city to reach the suburb. It is one of the largest boat harbors in the Southern hemisphere. The great thing about this place is that it has many multi-million worth houses and apartments. And the house price has risen too in the last three years. It means it is the perfect place for investing if you want lots of profit.
So, I hope our blog helps you find a suburb in Australia. You can invest in any of those above places and can get a great deal. Try to invest where most of the families stay, and it will help you in gaining rather than losing.