Property prices in Victoria

[christan]

I was told by a contact that the property prices in Melbourne have risen tremendously. I wonder if there are any particular restrictions against foreigners investing in the property there?

[christan]

Does anyone have any contact to a real estate agent in Melbourne?

[JamesGG]

Hiya,

There can be some restrictions for foreigners. Check with the Foreign Investment Review Board, maybe...?

From memory (you are testing me, though), non-residents can only invest in brand new property, and may need permission from the board first.

See here (http://www.firb.gov.au/content/faq.asp) for more info.

Melbourne is a big place, lots of agents here. Is there a particular area that you are looking in...?

Cheers

James.

[AlbionColt]

Hey Jamesgg! I visited the link you have mentioned here. The seller’s reserve price is usually set on the day of the auction. It may be higher than the advertised price if the seller believes several genuine buyers are interested in the property.