Russian business in Australia: my experience.
The first article in the author’s column of Tatyana Jarrel.
Australia is one of the most urbanized countries in the world: 88% of Australians live in cities along the shores of the Pacific and Indian Oceans.
Four of its main cities were marked in the top ten cities with the most favorable conditions for living (World’s Most Liveable Cities List). And Melbourne took the 1st place, Sydney – 6th, Adelaide and Perth shared the 8th place.
Sydney, by the way, – while the most “expensive” city of Australia, followed by Melbourne. If we draw an analogy with Russia, then Melbourne and Sydney are St. Petersburg and Moscow, respectively.
Historically, real estate has become one of the most popular types of investment in Australia, not only among Australians, but also foreigners. The greatest interest in our property is shown by the British, Chinese, Japanese, and after the events of September 11 – Americans. Although the stable dollar rate, the stunning Australian climate, the highest standard of living, the relative remoteness of Australia from the rest of the world attract people from all countries and continents.
Recently, we have a lot of clients from Russia, India, Israel, Ukraine, Kazakhstan. It seems to me that very many people began to come to an interesting conclusion: sometimes further – it means, more reliable.
Our real estate company is located in the center of Melbourne, and works closely with the Australian Department of Immigration.
In order to invest in real estate, it is not necessary to be a citizen of Australia, moreover, the investor does not even need to come to the country. The algorithm of actions here is worked out to the smallest detail, and the Deal itself is controlled by a number of instances. With the proper organization of real estate and legal support, such a business falls into the category of Low Risk (a business of reduced risk).
The state supports foreign investors in every possible way. Mortgage loans, for example, represent foreign individuals and legal entities regardless of the country of residence, work or business. The size of the Mortgage reaches 80% of the real value of the property according to the results of an independent assessment. Loans are issued for a period of up to 25-30 years at 6-9% per annum.
Another plus is that housing in popular areas is never empty. The rental market is exceptionally well developed, therefore renting out real estate is one of the main incomes of property owners. Surprisingly, in Australia the demand for housing still exceeds supply. The annual rental profit is 4-6% of the market value. Maybe it does not look so tempting at first glance, like 10% + when investing in other industries or countries, but do not forget that real estate is not a short-term investment, but a long investment, which should be viewed with perspective as in terms of time and reliability.
The uniqueness of the Australian real estate market is that it, like anyone, develops cyclically, but the rise here should not be a recession.
According to the Australian Institute of Real Estate research, since 2004 the market has entered the stabilization phase after a ten-year recovery. In Australia, it was called shortly – “BOOM”. Prices are rising! But not by 15-18% per year, but by 8-10%.
Meanwhile, there are no negative trends on the market.
Now the prices are at an optimal level, the market is “at rest”, gaining strength for the next upswing. In my opinion, the next few years are the best time to purchase real estate.
I have been doing real estate for 18 years from the twenty that live in Australia. The last nine years I have my own real estate agency, by the way, the first Russian-speaking agency in Melbourne. The most interesting thing is that, in total, the agency’s employees speak ten languages, including Japanese, Chinese, Hebrew, and others.
I never imagined that life can change so abruptly. I was born and grew up in Minsk. She graduated from the Mechanics and Mathematics Faculty of Bel. Gos. University. First a couple of years she worked as a teacher in school, then first Head of the Cabinet of Informatics and subtractions. techniques at the Institute for the Advancement of Teachers. Then the Graduate School in Moscow in the Institute of Content and Methods of Training. I came to Australia in 1991 for a month, on “holiday”. And then I got married and. remained.
Until that time, I never sold anything, which means that there were no skills, as, indeed, the English language, and any kind of connections. There was no real estate even on the horizon.
When my husband and I started looking for a house, I was just interested: who are these people who show us at home? All well dressed, on beautiful machines .. In general, purely childish. I found a course at the university and wanted to sign up. Unfortunately, I could not even fill out the questionnaire, because I did not know English at all. Then, having come home she said to her husband: “You will go with me to study and you will translate me”! So we both completed this course. Then after working for five years in the agency, I went to study further in absentia to get a license to work myself.
In 2002, I opened my business – JARREL ESTATE AGENTS.
I’m terribly fond of my work, although, it’s not a job, it’s a lifestyle. Schedule 24/7. I have two children. Son Igor graduated from Melbourne University. He is a top-notch programmer, runs his computer business and at the same time helps me in administrative matters. Nick’s daughter went to the University of Melbourne for Architecture and Urbanization this year. She is very active in politics, and in her free time she works in our office. Unfortunately, because of my eternal employment at work, I never noticed how they grew up. But I can be proud of them. My husband, Alexei, is my partner in business. He, mainly, is engaged in land and new buildings. And also immigration issues of our clients who do not just invest, but want to move to Australia or train their children here. So for us, real estate is the whole life of the whole family.
A small reference about the city where our agency is located: Melbourne is the capital of the state of Victoria. Population 4 million people, tourism – 3.5 million. person per year. The cultural and sports capital and financial center of the country. Here is the largest Australian seaport, with a turnover of more than $ 75 billion per year. Mastercard Worldwide Center of Commerce Index 2007 placed Melbourne in 34th place in 50 of the world’s major financial cities, placing it between Barcelona and Geneva. In Melbourne, there are world-famous sports competitions such as the Australian Open Tennis Championship and the annual opening of the Formula 1 championship season. Melbourne is known as a city of year-round festivals, stunning cultural events, the best restaurants and bars.
Specialists of the Australian Institute of Real Estate recognize Melbourne as the most profitable city in terms of investment.
If you have any questions, ask, we will be happy to answer them.
Tanya Jarrel Ph. D.
Director / Office in Effective Control.
JARREL ESTATE AGENTS.
207 Glen Huntly Road.
Elsternwick, Melbourne, Victoria 3185.
p: (+613) 9528 1210.
f: (+613) 9528 5903.
m: (+614) 1282 9774.
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