Most immigrants rent in the first few years.
This is just what property investors want to hear. The current high rental prices and low availability is already working in their favour and the prospect of that demand increasing is a great incentive to purchase their next rental property such as a unit from your future development. In addition, they almost have a guarantee they will find tenants and receive a decent rental income. If you are sitting on a block big enough for multi-units especially if you are close to a university or public transport you should expect a lot of interest, come sale time. Incoming foreign students will be on the lookout for rentals close to their place of study which makes multi-unit dwellings an attractive investment purchase.
Immigrants are likely to buy within a few years of moving.
If you have developed before you are likely aware of the time it takes to submit building applications, plans and gain council approval for your development and with the current building delays, your next project could take longer than expected. Therefore, leave yourself with plenty of time to get your development completed. Start looking for land and securing a block for your next project now so you can be prepared and have homes built and ready to go when these immigrants are looking to buy.
“With borders opening in 2022, a significant pick-up in immigration will fuel further demand, right at the time when supply is struggling to keep up due to the labour shortages in the building industry.”
Don’t wait for building prices to go down. Strong evidence suggests demand should start to pick up mid-end of next year if borders in WA open which could cause increases in housing prices. This is why now is a good time to get a move along on your development before the influx of immigrants hits our state. Help fill the current supply gap in the housing market by getting your development ready to go.
Starting a development is easier said than done. It takes time to get things moving, to find land, submit applications, get council approval, which is why getting the ball rolling sooner rather than later will put you in a better position for the near future. Contact us to help you get started on your project.
We can help you with your search for land, building plans, council submissions, EVERYTHING from start to finish. If you are still not sold on the clear evidence provided, in addition, we will do a feasibility study for your prospective project to give you a good indication of the returns you should expect.
Send Jubilee Homes Director Joe Snare a message today:
