Buy Investment Properties in Melbourne
Using Super to Buy Investment Property in Melbourne is one of the most common strategies for those looking to build their property portfolio. Residential properties (houses and units) have been a key driver of the city’s property market, but commercial properties like retail shops, factories, warehouses and office spaces are a different league and generally only suitable for more advanced investors who have already built up a strong portfolio and are now looking for a more stable source of income.
Melbourne’s Property Goldmine: Tips for Successful Investment Property Purchases
The city’s inner and middle-ring suburbs have been the key drivers of its property market and, in general, these areas will continue to outperform suburban markets further afield. The key reason is that these locations are closer to the city and, as a result, offer better access to employment opportunities, amenities, and services. This can make them more attractive to tenants who are often willing to pay a premium for this type of location.
However, when searching for investment properties in Melbourne, it’s important to remember that while numbers and stats are crucial in making an informed decision, genuinely liking the suburb is equally as vital. Try and get to know the area you are considering investing in, take public transport around the suburb and speak to people who live there. Doing this will help you to determine whether it is a location that would be a good fit for you and your lifestyle. If it is, then you’re well on your way to finding the perfect investment property!