South African property developer and offshore investor, Devmco Group is launching a new offshore investment scheme, targeting off-plan developments in Brisbane, Australia.
The scheme, called Invest Australia, was born out of an understanding that South African property investors are looking for a more stable environment for their money, amid a global downward trend in the property market.
“Through extensive research, we have identified Australia over any other country. Statistics show that over the past 20 years, Australia has become the fastest growing first-world market through their overall economy, wealth, income and property,” the group said.
“While other countries have experienced extreme property price declines of up to 70%, Australia has remained consistently steady over the years. In fact, Australia’s property market has shown consistent capital growth over the last 100 years, with Australian property prices having doubled approximately every 7 to 10 years,” it said.
Brisbane, in particular, has been identified as the most appealing market for South African investors to get a foot in, mainly due to its lower costs compared to Sydney and Melbourne. Here the group is targeting investments starting at R5 million.
“A recent Finder RBA Cash Rate Survey reveals that property experts nominated Brisbane as the best city to invest AUD$500,000 (R5 million) in property, which is in line with the off-plan developments Invest Australia intends to introduce its network to.
“Additionally, the population and property market growth can be attributed to major projects like Queen’s Wharf, HS Wharf, TradeCoast, Cross River Rail and many more.”
According to Devmco, one of the substantial changes taking place in Brisbane, which is due for completion in 2020, is the Airport’s AUD$1.3billion second runway.
“With property experts shining the spotlight on Brisbane, coupled with the increasing demand from investors for opportunities in this region, this area will continue to offer the best prospects for long-term capital growth,” the group said.