Can international students own a house?
Yes. Vietnamese international students have the right to buy and own property
How valuable is the project's view?
With its prestigious location on Melbourne’s renowned Collins Street and situated on one of the world’s largest remaining Finger Wharves, Ancora offers you the opportunity to experience a luxurious lifestyle with unlimited views.
Possible Rental Rates?
1-bedroom apartment: $3,000 to $4,000 AUD per month 2-bedroom apartment: $4,000 to $5,000 AUD per month 3-bedroom apartment: $5,000 to $6,000 AUD per month Office space: $500 to $1,000 AUD per square meter per month Hotel rooms: $200 to $300 AUD per room per night The specific rental prices dependent on factors such as size, location, amenities, services provided, and real estate market situations. However, properties at Ancora project present a high rental potential, offering attractive returns for investors.
Investment Potential: Buying vs Renting?
You purchase a 1-bedroom apartment at Ancora for 500,000 AUD. You secure an 80% loan from the bank, equivalent to 400,000 AUD, with an annual interest rate of 6%. Repayment terms are set at 20 years, amounting to 2,272 AUD per month. Alternatively, if you opt to rent a 1-bedroom apartment in the Docklands area, the average monthly rent stands at 3,000 AUD. Profit from Renting: By renting out your apartment, you could potentially earn around 3,000 AUD per month. After deducting the monthly loan repayment, you could net approximately 728 AUD per month. Property Appreciation: Melbourne’s real estate market is booming, with property values projected to surge by 5% annually over the next two decades. This means your apartment’s value could appreciate to 750,000 AUD after 20 years. Total Profit: After 20 years, you could accumulate total profits of 165,600 AUD from renting out your apartment. Additionally, you’d benefit from the increase in property value, totaling 250,000 AUD. Therefore, your overall profit would amount to 415,600 AUD, equivalent to 20,780 AUD annually. After 20 years, you would receive a total profit of $165,600 AUD from renting out the apartment. Comparison with Renting: If you rented a property for 20 years, you would incur a total cost of $660,000 AUD. Consequently, you would incur a loss of $244,400 AUD compared to purchasing the property. In conclusion, this analysis demonstrates that buying a property could provide significant long-term financial benefits. You stand to gain income from renting out the property and benefit from property appreciation. Conversely, renting may result in long-term financial loss.
Does buying a house lead to residency?
Buying a house is a milestone in the residency process, demonstrating your financial capability for the government to trust your residency application. However, along with that, you need to show a willingness to contribute to the country through specific skills in a profession or business, or by creating employment opportunities for citizens. You also need to meet certain characteristics of Australian citizens such as English proficiency and understanding of Australian history, etc. Buying a house is one of the favorable conditions for residency but not the sole requirement.
