Holiday Property and Vacation Real Estate in Australia
Since the 1950s, when it come to the ownership of real estate in Australia by foreign nationals, the most common type of property that a non-Australian can be found purchasing is vacation real estate. Again, and as has been mentioned, tourism remains a primary industry in Australia.
Thousands of people who are citizens of foreign countries have taken to purchasing vacation property in Australia. By making these investments, these foreign nationals are able to spend time on holiday or vacation within Australia and have a home base from which to operate while in country.
Many such investors are taking the additional step of renting or leasing out these properties during those periods of the year when they are not using the properties. In many of such cases, the vacation property owner has found that he or she is able to turn a tidy profit from this type of arrangement.