After a tumultuous few years for the Australian property market, many potential investors have held off purchasing, instead waiting for prices to fall and the economic climate to stabilize. While there is no certainty in 2023, investors are looking at the positives in anticipation for re-entering the property market.
Investing in property can be a smart financial decision, and 2023 could be the perfect time to consider buying an investment property. Here are a few reasons why:
- Stable Market – The Australian property market has shown steady growth in recent years and is expected to remain stable in 2023. This stability offers a safer investment option for those looking to invest in real estate.
- Low-Interest Rates – The Reserve Bank of Australia has kept interest rates low, making it easier for potential buyers to secure financing for their investment property.
- Growing Demand – While Covid basically shut down international migration for well over two years, Australia has welcomed back international ex-pats in droves. In turn, the demand for housing is expected to increase, making investment properties a potentially lucrative investment opportunity.
- Tax Incentives: The Australian government offers various tax incentives for property investors, including deductions for mortgage interest and other expenses related to the property.
- Strong Rental Market: With a growing population, the demand for rental properties is also expected to increase, offering the potential for steady rental income for investment property owners.
It’s important to do thorough research and consider your financial situation before making investment decisions. A stable market, low-interest rates, growing demand, tax incentives, and a strong rental market have created the perfect storm for investors.
So, will you take the leap and invest in 2023? Or play it safe and wait it out another year? Ortus Cranbourne East is the perfect location for an investment property, with townhomes and land lots available now! Get in touch with us today.