Aussie investors can't resist US real estate bargains
Cash rich Aussies keen to invest their hard earned wonga are being tempted by the plentiful bargains currently on offer across the USA real estate market.
The rise of the Australian dollar is proving to be invaluable when looking to buy foreign property for investment purposes.
Property seminars are pulling in crowds of Australian property owners rich in home equity funds and looking to spread their wings on property ownership. USA real estate prices are now so low - in some areas they are just a fraction of the asking prices of 2007 before the global cash crisis.
The types of property most popular with the Australian investors are apartments and townhouses and while average house prices in Oz are above $350,000 property in tourist hotspot Miami can be purchased for less than $15,000. And while property taxes down under add tens of thousands of dollars to the purchase price in the US they are relatively cheap.