Property rights include ownership, possession, control, use, income and disposal of property.
Housing property right refers to the owner's ownership of the house and the right to use the land occupied by the house. As real estate and land are an inseparable whole, when there are changes in property rights such as transfer, the house must be carried out as a whole, and it is impossible to dispose of the house and land separately.
Domestic real estate only includes the right to use for 70 years, excluding ownership (see Land Management Law, that is, countries with unexpired land use rights can also requisition it). In Australia, the sale of houses and land is handled separately. When you buy a house, you sign a contract. This is land &; House contract, first sign the land transfer contract, and then sign the house sales contract with the developer. If the buyer has more requirements, he can also buy the land first, find a designer to design it himself, and then submit it to the government for approval. If you buy an apartment, you also have land ownership. This is called common land, that is, you share it with others, which can save a lot of trouble and pay land tax every year.
2, the value-added potential is different.
The rapid development of China's economy has driven the rapid growth of the real estate market. Countless people rely on real estate or simply resell houses to run a well-off life and become rich. Listening to friends say that the most exaggerated increase in Shanghai's housing prices has doubled in three months, which can only make people regret not catching up. Who let the person who bought the property first make money later?
In Australia, however, the trend of house prices is quite stable, rising by 7%- 10% every year, and doubling in about 7- 10 years. Especially since 1990s, under the background of global economic easing, the growth has been particularly rapid. This is mainly caused by white culture, and foreigners prefer renting to buying. Nearly 30% of Australian residents live in rented houses. However, in recent decades, a steady stream of new immigrants has brought a lot of housing demand to Australia, and also brought the concept of buying a house to settle down. The annual population growth of 2. 1% has greatly stimulated domestic demand and stimulated the economy. Among these immigrants, China people contributed the most.
Although the price increase in Australia is not as good as that in China, it is also the performance of a mature market. It is precisely because of the prevalence of rental culture that Australia's real estate industry is healthier and less risky than other countries.
The basic difference between buying a house in Australia and buying a house in China
3. Risk differences
3. 1 vacancy rate
Vacancy rate refers to the proportion of vacant housing area to the total housing area at a certain moment. It is one of the standards to measure the health of a country's real estate industry. According to international practice, the vacancy rate of commercial housing is 5%- 10% as a reasonable area, and the balance between supply and demand of commercial housing is conducive to the healthy development of the national economy; The vacancy rate is between 10% and 20%, so some measures should be taken to increase the sales of commercial housing to ensure the normal development of the real estate market and the normal operation of the national economy. The vacancy rate above 20% is a serious backlog of commercial housing.
Vacancy rate 10%-20% is vacant danger zone, and Shanghai is 60.2%. Beijing does not dare to calculate by area at all, but by the number of vacant houses/total houses. According to official statistics, it will take at least 42 years for vacant houses in China to be digested. In other words, according to the normal economic system, within 42 years, even if house prices do not fall, there is no reason to continue to rise. Take Melbourne as an example. What is the vacancy rate? 2%-3% floating.
As mentioned above, 30% of Australians rent a house. Therefore, buying a house in Australia will not worry about renting out at all. Because there are only one or two unoccupied houses in 100, it may still be a distant case.
For international students, most of them have rented a house. It is not uncommon for dozens of people to queue up to grab a house. There are more people and fewer houses, and the supply is less than the demand. This is the real situation of Australian towns.
Return on investment (ROI)
In short, the rental rate of return is the annual rent divided by the house price. According to the survey, at present, in four first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, the average return on investment of ordinary houses is less than 3.5%. Among them, the return on investment in Beijing is even lower, except for the northern region, which is below 2.5% in most other regions. Beijing is not an orphan, and the overall rental return rate in Shanghai is only 2%-3%.
In sharp contrast, it is the rental return rate of Australian real estate. The rental return rate of Sydney real estate remains at around 5.3%. Due to the explosive population expansion in Brisben, the rate of return can reach 6%-6.5%. Melbourne accounts for about 7% of the urban area. If there is a mining area or a military region like Gladstone, townsville, with more people and fewer houses and no tall buildings, the rental return rate will be unimaginable 1 1%- 13%!
4. The position of the government
4. 1 government subsidy
Excluding the above-mentioned government subsidies and tax refund income, the ROI is already 5.2%, which is basically the same as the housing loan interest rate (about 5.5%). So in Australia, renting a house is not as good as buying a house yourself. However, Australians respect freedom and consumption in advance, and even an old lady in her seventies goes out to work with a government pension every week just to live alone in Manley Beach. This is the picture! The government is worried. "Please, buy a house. I'll give you money, a large sum at a time, and a refund every year! I bought a house, which is good for you and me. I can brush the data, reduce the burden of old-age care, and you can make a fortune, not counting your inheritance tax! Buy it, buy it, or let China people buy it! "
It is no exaggeration to say that the above sentence is well-founded. In New South Wales, first-time home buyers who purchase new houses or uncompleted residential flats below 650,000 (median house price) will receive a subsidy of 654.38+0.5 million Australian dollars, which will be reduced from 2065,438+06,654.38+0.00 to 654.38+0.00 Australian dollars. In Queensland, first-time home buyers can apply for government assistance of10.5 million Australian dollars from September, but the total house price must not exceed 750,000 Australian dollars, and it must be a new house or a completed building. If the total house price is less than A $400,000, stamp duty will be exempted. From July 1 20 13, the Victorian government began to implement new subsidies for first-time buyers, with the subsidy amount of 1 10,000 Australian dollars; In addition, the preferential stamp duty rate will be raised to 40%.
4.2 Australia is the only country that implements negative debt tax declaration.
Many people call it negative tax deduction. As the name implies, negative is positive. Not only will there be no tax deduction, but there will also be tax compensation. Of course, there is also a prerequisite-investment purpose. In order to encourage real estate investment, ATO Taxation Bureau regards individual housing rental as a small business that will generate taxable income! As we all know, there is a principle in accounting called accrualaccounting, which is called "accrual accounting" in Chinese. Refers to the recognition of current income and expenses, creditor's rights and debts with the occurrence of the right to receive cash or the responsibility to pay cash as a symbol, that is, the income is recognized according to the occurrence of cash income and future cash income creditor's rights; Expenses are recognized according to the occurrence of cash expenditure and future cash expenditure liabilities. Generally speaking, when you calculate depreciation, it seems that you are losing money, but in fact you are not losing money, because no one cares what you depreciate when you sell your house.
Because the higher the income, the higher the tax rate, and the better the tax avoidance effect of real estate investment on high-income people. For example, if the annual salary reaches A $200,000, then the annual tax refund for this property is A $865,438+000. My wife works in an accounting firm and often helps companies or individuals to refund taxes. It is found that all high-income people like doctors and lawyers must have several properties under their accounts to offset taxes. Therefore, high-income people usually pay lower taxes each year than low-income people and do not need to pay taxes. This also reflects the law that the poor are getting poorer and the rich are getting richer in capitalist society.
4.3 The Australian government very much hopes that "one of its own" can buy a house.
However, in this country that pursues so-called "democracy and fairness", people without PR can't be treated differently, so institutions like FIRB (Foreign Investment Review Board) were born to limit the number of non-nationals purchasing each project. Generally, it cannot exceed 50%, and an application must be submitted to Firb through a lawyer. If you buy a new house or auction house, the government will 100% approve FIRB, so you can buy it with confidence. Even if the visa expires in the future, the purchased house can be held by itself (vacant, rented or resold).
Step 5 get a loan
5. 1 loan difficulty
In Australia, it is much less difficult for real estate investors to apply for loans from banks. Even international students can apply for loans. Although international students have no or little income, they can use their parents as guarantors and use the income of guarantors to guarantee your loan. After the professional guidance of brokers, you can generally apply for 80% loans. These professional instructions include canceling your credit card to reduce the degree of credit default. You don't need extra collateral. The house itself is your collateral. This shows that the banking industry has enough confidence in the Australian real estate market!
Imagine that if your repayment ability goes wrong or you go bankrupt, the bank just needs to take back the property and bid at the current price. Capitalist banks will not take too much risks. If banks dare to do this, they can only say that the market price after recycling will definitely be higher than the price they paid when lending (the loan interest rate is only one percentage point higher than the deposit interest rate), and it is a profitable business! You know, in Sydney, on average, ten properties are repossessed by banks every week and then auctioned ... the argument that the real estate bubble is self-defeating.
In addition, recent economic indicators and data show that there are very few real estate bubbles in Australia. Australia is the only developed country that still maintains the AAA sovereign ratings of S&P, Fitch and Moody's. Especially in this era when the European debt crisis and the American debt crisis are getting worse, Australia's budget deficit in fiscal year 201-12 only accounts for about 3% of GDP. The Australian dollar even has some hedging functions. Even the once-in-a-decade economic crisis has not had a visible impact on Australia's real estate market, because the real estate market has played a role in balancing Australia's economic development. Whenever there are unstable expectations for the world economy, the Australian government will take a series of measures to encourage the real estate market and stimulate domestic demand. These policies include interest rate cuts and policy subsidies.
5.2 Loan down payment
Housing loan plays the role of financial leverage in investment. As the saying goes, small and wide, four or two dial a thousand pounds. Get a greater return on investment with less investment. Especially in Australia, the rent is equal to the loan interest, and the lower the down payment, the better. The down payment for buying Australian real estate is only 10%. On the other hand, in 2005, the State Council ordered that the down payment for individual housing loans should be increased to 30%, and the down payment for second home loans should be no less than 50%. If the second suite is used for investment and rental, it has lost its investment value in theory. Because "poor dad and rich dad" said that "it is irrational and incorrect to simply expect housing appreciation to gain income".
Parents of foreign students who have little knowledge of the Australian housing market began to play the abacus of "exchanging rooms for education". Indeed, take the median house price of 600,000 two-bedroom apartments in Sydney this year as an example. The down payment for buying an uncompleted residential building is only 5%-65,438+00%, that is, 30,000-60,000 Australian dollars, which is less than the tuition and living expenses of an international student for one year. Two years later, the property was completed. According to the annual growth rate of 7%, the house has grown to 684,000, and with the government subsidy of 5,000 Australian dollars, the profit is about two years of tuition. If the house is used for self-occupation in the future, you can pay a loan similar to rent and you will have a house.
If you rent this house out to offset the loan and sell it in a year when the house price is high, you will get a lot of capitalgain. If you rent out the owner of this house and live in a small room, then you will increase the rent for the tenant every year (the loan will not increase with the house price), which will not only save your rent, but also gain capital gains when you sell the house. Of course, in such a professional country, you must find a professional broker to help realize the loan.
5.3 Pay interest only
Banks in Australia allow buyers to repay only the loan interest, not the principal! Why can I only pay interest? See the property rights issue above. The right to use the house in China is 70 years, so of course, the money must be paid off within the service life of the house, otherwise it will be wasted. Moreover, Australian houses are private property, that is, forever and indefinitely, and they can be returned whenever they want!
First, since buying real estate is an investment, it is our pursuit to maximize income and minimize risk. Investors can be divided into risk preference type and risk aversion type, and their confidence in investment projects is different. If you don't have confidence, invest less and pocket the extra money. If you are confident, it is better to use the buyout money to buy more properties in other areas, which can maximize the benefits and spread the risks.
Second, only paying interest can also maximize the annual book loss and refund as much as possible. On the contrary, what if the rental income exceeds depreciation after paying off? Not only can't you get a tax refund, but you also have to pay taxes because of the profits you invested!
You can also apply to the bank for an offset account, put the house money in, and the bank will automatically withdraw money from it every month. Interest-free, because the deposit interest and loan interest offset. The advantage is that the off-balance-sheet account is your own account and you can withdraw money at any time. As long as the original amount is deposited before the end of the month, there will be no loan interest.
5.4 Refinancing
When the house price rises, for example, 600,000 houses rise to 700,000, then the increase of 6.5438+10,000 can be used to apply for refinancing from the bank. Take this "invisible" 654.38+ million as the down payment of the second house and buy the second house "for free". By analogy, you can apply to the bank for renewal of insurance every few years, and you can easily embark on the right path of investment and financial management. This is the western version of the story that hens lay eggs and eggs become hens. In developed countries, the probability of getting rich overnight is very low, and huge wealth is often accumulated through the efforts of several generations. With the correct investment concept, everyone can live a good life.
6. Different trading systems
Australia's history is not long, but the system is very strict, and most of it follows the British tradition. This is reflected in various fields, including the housing market. Such as a third-party system. The owner, the seller and the buyer's customer will not meet, and the whole buying and selling process will be completed through a third party-an intermediary. With the cooperation of the lawyers of the buyer and the seller, the intermediary exchanges contracts for both parties. Of course, a series of tedious work such as contacting lawyers and inviting brokers to help with loans can also be entrusted to intermediaries. Even, because of the intermediary's great bargaining power (collective buyers, equivalent to group buying), sometimes it can win the interests of buyers from developers.
When it comes to intermediaries, people in China often turn pale at the sight of fear. This is due to various irregular and immoral behaviors of domestic intermediaries and the lack of effective legal mechanism supervision. In Australia, the situation is completely different. If you want to enter the real estate market, even if you just hold the key to open the door and show people the house, you need a real estate registration certificate.
With the promotion of the position, the rights become greater, and it is necessary to receive re-education in related courses and obtain various certificates. The introduction of licenses is mainly to cultivate professional ethics and legal knowledge. The course lasts for one week and takes two to three months until Fair Trade issues a license. The cost of formal training is about 700 Australian dollars. There will be many case studies in the class, probably all about the dangers of doing this business, and you may be sued at any time. Anything you say may be used as evidence in court. If you exaggerate, you can't say something you don't understand. Some words are not allowed to be said, and publicity is a very important one. For example, if someone dies in the house, the sewer will be blocked and a house will be built next to it to block the light. Otherwise, the intermediary is the only responsible person. Intermediaries often have a training period of three months to half a year after joining the job, because modern people have higher and higher requirements for intermediaries, not only to master real estate knowledge, but also to understand finance, economy, structure, materials and even Feng Shui.
The process of buying a house in Australia is also different from that in China. Real estate projects in Australia are generally approved by DA (Development Approval) before being sold.
Developers sell while covering, and the more they sell, the more expensive they are. Built, the house is almost sold out. So if you want to buy a new house with a reasonable price, you often see building models, simulated drawings, apartment plans and construction sites ... pay a certain deposit first, and then pay 10% of the house price (the down payment 10% will be directly deposited in the lawyer's trust bank account, and no one has the right to use it, which largely avoids the risks for the buyers). Based on the above procedures, it is better to buy real estate in the early stage of the project than in the later stage, because there are more floors and apartment types to choose from, and developers will also give some good preferential policies.