Putting Your Money in the Countryside
It does not come as a surprise that the countryside’s real estate scene has become the forefront of the country’s property landscape. The vastness of the country’s agricultural lands and its resources have attracted potential local and international investors. In fact, Chinese billionaires are getting their hands on properties in the rural areas. ABC reported that in 2015, these Chinese buyers ploughed more than $3 billion worth of property investments in the countryside.
Based from a local real estate agency, some of the most popular up-for-grab rural properties are farmlands and grazing properties. For instance, a dairy farm in Victoria owned by a Chinese businessman had expanded by purchasing the abutting dairy farm. This move was an effort to increase by twofold the size of the dairy farm’s herd. In addition, the owner is planning to set up a bottling facility and industrial-sized outhouses.
Splurge on rural lands of Chinese investors is only just beginning. Conglomerates and government-owned companies are planning to spend billions of dollars on cattle stations, pastoral lands and in the country’s agricultural industry.
Sales of lifestyle properties in the countryside is also burgeoning. According to the , there is a 15.3 percent increase in the market price of rural properties from 2014 to 2016. Let’s take Melton as an example. The residential developments going on in this shire have caused a sudden increase in land values by at least 15 percent. Another is the Mornington Peninsula. Melburnians who are shifting to a rural way of life are flocking to the region.
Properties that are able to generate revenues are also in demand. Cabins and huts that can be leased or rented out in Daylesford and in the Macedon Ranges are very marketable.
Looking for the Right Property
When purchasing your first property in the countryside, make sure that it is free from chemical contamination. In addition, be wary of the pests, plant diseases and livestock diseases that may plague your livestock and root crops. You can consult the Department of Primary Industries (DPI) if and when you have concerns regarding the aforementioned matters.