A great investment you might want to consider is the ownership of a freehold motel. In Australia, freehold means you own the property forever. It’s a system that attracts many investors. The Australian government has rules for foreign investors when acquiring real estate in the country.
Buyers need the permission of the Foreign Investment Review Board or FIRB to earn the right to purchase a motel, for example, or any other estate. Buyers have two options: buy the property off-the-plan, or while the building is under construction, or when it’s finished but has never been sold or occupied. The FIRB also allows foreign students – provided that the students are enrolled in a recognised school and that they possess valid student visas.
There are many reasons Australia is such a great place for a motel business, such as:
- Great Economic Climate – Since the 1990s, Australia has become one of the leading countries in terms of economic growth. This stability in economics and also in politics resulted in the rapid influx of foreign investors.
- Cultural Diversity – Australia is the world’s melting pot in the south. Whatever the angle is, that’s a good point to invest in an area.
- Rich Heritage – Aussie has a long and rich history filled with different cultural milestones. Many Australians are also fans of art and culture. This is evident with the many art-related events in the country all year round. In effect, tourism thrives and investments grow.
- Unique Flora and Fauna – Koalas and kangaroos are famous attractions in Australia. These creatures don’t exist elsewhere. Add the many native plants in the area and the beautiful scenery, and you get a vacation haven to die for.
The uniqueness and rich culture of Australia make it a must-visit. This is why thousands go to the country every year and check out the different sights and attractions. Because of this, investing in the motel industry of the country is definitely worth it.