Why People are Investing in Property Overseas

Those in the property market are looking overseas to extend their portfolios. Investors are seeking higher capital gain and stronger rental yields. But Australian property prices are extremely high compared to a lot of overseas countries.

In this article, we will explore some of the factors that property investors need to consider when sending money overseas.

Growing Overseas Property Investment

Demand for property in major cities like Sydney and Melbourne is at an all time high. As a result, prices have blown up, well beyond what many investors are willing to pay. Whether it be population growth, overseas investment or policies like negative gearing, Australian property investment is becoming more difficult.

To make matters worse, housing prices in Australia are higher than most overseas markets. This means investors consider overseas investment to be a more savvy decision. Making the most of available financial resources is crucial for property investment. This is why remittance has become so important.

Of course, many investors use banks for their remittance. But the larger the transfer, the more money banks steal in fees and exchange rates. This is a huge red flag for investors.

For this reason, smarter investors use remittance companies when sending large sums of money. This is helping them save literally thousands of dollars on their money transfers.

Investors are able to purchase property from any location. This is because the digital age now allows us to move money very quickly. But with this ease comes the need to be even more thorough.

According to Marwan Hassaan,“Remittances can also be used to purchase property in other countries, as long as the recipient country allows foreign investment in real estate.” This highlights the importance of always knowing rules and regulations when investing in property overseas.

You should also consider the following factors before completing your remittance transactions:

• Exchange rate:On large transfers, the exchange rate can make all the difference. Be sure to compare the market. But you’ll always get better rates with remittance companies.
• Understand all legal implications for your large transfers, both in the country you send your money to and where you send it from.
• Tax Implications:Transferring significant amounts internationally may have tax implications, such as potential capital gains taxes or reporting requirements. Seeking professional advice is always strongly recommended.
• Ensure your preferred payment method is available, and research of relevant implications.
• Documentation: Keep thorough, up-to-date records of all identification and relevant documents, including bank details.

The Importance of Remittance to Overseas Property Investment

Without remittance, overseas investment would be far less appealing for many people.

Imagine if you were building a property overseas, and a sudden expense were to appear. Your construction team might need some crucial equipment. You can quickly transfer the required funds to ensure the process is not unnecessarily delayed.

But there are even more benefits. Investing in property through remittance can serve as a hedge against economic uncertainty. By diversifying your investments, you can reduce your risk against financial volatility.

Perhaps you have altruistic purposes. Remittances for property investment can contribute to economic growth in overseas countries, especially less developed ones. Foreign capital that stimulates construction activity has flow on effects, supporting other industries like real estate and retail.

There are also significant benefits from a family perspective. Maybe you want to relocate or purchase a second home overseas. You are able to use remittances to make the purchase process so much easier. It can support lifestyle choices like retirement, vacation homes, or educational opportunities for children in international locations

Property purchased through remittance is a great way to store and accumulate wealth, as it can be used for long-term real estate strategies. This can provide long-term financial security and inheritance for your children, and future generations beyond them.

You can ensure the process is fast by using a remittance company. At e-Pocket, we make sure almost all transfers are completed within one business day.

What You Need to Know About Overseas Property Investment

It is important to do your research for the best platform to use to remit money for property investment. Fees and exchange rates fluctuate greatly on different platforms. The larger the transfer, the more money you will lose on exchange rates and fees.

You also want to know you’re using a reliable and reputable organisation. Read reviews, check trust ratings, send them emails, give them a call. You want to find a trustworthy and honest company.

Consider the following:

• Do they have good customer service?
• Do they help me out if I have a problem?
• Are they registered with AUSTRAC?
• Do they have a record of losing people’s money?
• Does their website work?
• Is it easy to sign up?

Remittance is pivotal to property investment. It enables individuals and institutions to participate in global property markets. It allows cross-border transactions and leverages opportunities that contribute to wealth growth and diversification. Remittance provides easier, faster and more secure transactions than ever before.

Create your e-Pocket account today, to enjoy the benefits of the best remittance service you can find.