Property Investment in Melbourne is a popular option for those wanting to grow their wealth through property ownership. As Australia’s sporting capital, culture hub and foodie haven, Melbourne also offers world-leading healthcare, education and infrastructure alongside a robust economy.
Why is Melbourne property so expensive?
With a steady population growth rate, low vacancy rates and historically high rental returns, there’s no surprise that Melbourne attracts property investors. However, when looking at investing in property in Melbourne, there are some key factors to consider that may impact your return.
As the market is incredibly competitive, it’s important to understand how you can maximise your returns by making smart decisions and selecting properties that will benefit from future capital growth. It’s also crucial to determine your personal risk profile, as purchasing property involves a significant financial commitment. It’s a good idea to speak with a specialist buyer’s agent or buyer advocate, who can help you with the entire process from research, searching, negotiating and purchasing.
Another factor to consider is the lifestyle a property offers. For example, if you’re planning on purchasing an industrial property, proximity to local amenities should be a priority. Moreover, if you’re investing in a commercial property, the type of tenant you’re targeting should be considered. For example, a warehouse or logistics tenant might prefer to be located in a central location where they can easily manoeuvre trucks. However, they might be willing to commute further out in the suburbs if it means higher capital gains.