With the recent introduction of a ‘safe haven’ visa for Hongkongers, Australia is a popular choice for investors as well as for intending emigrants.
The Australian government is now offering new and extended visa options to students and skilled workers from Hong Kong. This will help Hong Kong passport holders to remain in Australia, with pathways to permanent residency. Current and future students from Hong Kong will be eligible for a 5-year temporary graduate visa once they have successfully completed eligible tertiary studies.
Current and future temporary skilled visa holders will also be eligible for a pathway to permanent residency at the end of their 5-year stay.
There is a lower degree of volatility in Australian property prices compared with Hong Kong, notes Nicky So, Executive Director & Partner of FM Investment Hong Kong. He highlights the fact that Australian property prices are more stable and can withstand shocks better, including the coronavirus pandemic. Also, more and more overseas banks have begun to offer mortgage loans for overseas investors. Therefore, So maintains a positive outlook on the Australia property market.
Amongst the various state capitals, Melbourne prides itself as the world’s most liveable city for 76 years in a row. With its high rental yield, Melbourne has the edge over Sydney. What’s more, the average property price per sq ft of Melbourne’s most prestigious areas is about HKD $5000, making it merely a one-third of Hong Kong’s average property price per sq ft.
On investing in Melbourne homes, So advises investors to opt for districts that are close to the CBD, such as South Yarra,but not actually at the CBD itself. He explains, “Locals prefer living somewhere near to their office, but not right next to it.”
South Yarra is Melbourne’s most prestigious location, while Claremont Street is the city’s most exclusive address. And at the centre of it all is Yarra One.
Yarra One
Developed by EcoWorld, Yarra One boasts a walk score of 95 and is the final masterstroke in the Forrest Hill precinct. Its central location means excellent connectivity. The nearby South Yarra Station takes you from home to the CBD in 2 minutes by train, while trams connect with the greater city.
Connecting Yarra Lane to Daly Street, which in turn flows through to Chapel Street, the atrium will be a destination and a natural heart of Melbourne’s most exclusive neighbourhood. Yarra One is a mere 2-minute walk to Chapel Street and Toorak Road which boast a multitude of shopping malls, supermarkets, office buildings, and eateries,Yarra One comprises a collection of freehold 1- to 3-bedroom units ranging from 538 – 2,411sq. ft. and penthouses, overlooking spectacular views of the city skyline. The development features thoughtful concierge services and a range of expertly designed spaces with a focus on wellness, helping residents maintain a healthy body and mind. To flex your muscle, visit the state-of-the-art gym that looks out onto the greenery of the residents’ garden, the yoga and dance studio, or the private spa terrace.
What’s more, EcoWorld is making its environmental footprint on the Australian property market by introducing Tesla car-sharing for Yarra One. Residents will also find a charging point within their designated car space.
Estimated to be completed by October of 2020, the development is priced from AUD 525k and 720k respectively for 1-bedroom (538 sq. ft.) and 2-bedroom (732 sq. ft.) units.
DWG Hong Kong
www.facebook.com/DWGHongKong/
FM Investment Hong Kong (FMI)
www.fminvestment.com
Nicky So
