Australians buying US property
Posted on 20 June 2011
Let’s begin with a disclosure – I’ve considered this idea. It has appeal from a number of perspectives – the relatively high value in the Australian dollar, the relatively beaten up valuation of US residential property and perhaps even the relatively interesting lifestyle choice. In the end though, New York ran second to Havana – the jazz and cigars always get me and besides Fidel can’t live forever.
But just because I like vintage cars and weathered facades doesn’t mean it’s not a good idea. After all, on the evidence of this research by Trulia, it looks like there is growing interest in the US residential markets (click on the chart to view the infographic):
Apparently, Australia ranks third by this measure – just behind Canada and the UK.
So perhaps it’s not surprising to find a group of retail financial advisors seeking to take advantage of the opportunity. Consider the recent closing of the IPO of a fund that will invest exclusively in US residential property. A quick review of the prospectus (here) and you will find a non-too-subtle structure designed to at least deliver the sponsors a nice return for their efforts.
Plus ca change, plus c’est la meme chose…
2 responses to Australians buying US property
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Strange thing about the USA is they are thanking the foreign investors for saving the property market.
Never mind that they are being turned from owners to renters and the rent money is sent overseas.
Guess it’s been a long couple of years for a lot of them. But I’m sure they’d agree with you – if given the choice between buying in 2007 and buying now. There’s reasonable odds that there will be a fair chunk of first home buyers over here that will be feeling the same way over the next couple of years.