Australia’s cultural capital with a strong economy and lots of investment opportunities
Discover Melbourne's Real Estate
Melbourne is the capital and most populated city of the Australian state of Victoria. Thus, there will always be a line of customers waiting to purchase a property. The city attracts millions of tourists each year also making it a prime location to hold real estate.
Culture, History, and Business
Melbourne is often referred to as Australia‘s cultural capital and for good reason. Melbourne hosts major events and festivals annually, which brings in people from all over the world. In 2017 all the festivals combined brought in 8.9 million tourists and the number is only increasing. Also, those people need a roof over their heads, which makes AirBnB properties a brilliant investment.
Furthermore, Melbourne is a globally renowned center of sport, music, theatre, comedy, art, architecture, and film. Therefore, people from all walks of life want to live in the multicultural city.
Melbourne has a highly diversified economy with strengths in finance, manufacturing, research, logistics, and tourism. The city houses many of Australia‘s largest corporations, including five of the ten largest in the country (based on revenue). Melbourne is also an important financial center. In 2018 the city was ranked 15th for having the most competitive financial center in the world.
The city has a rich history spanning back thousands of years. Originally the first British settlement established the city under a different name. After WWII Melbourne expanded rapidly increasing its economy and becoming one of the top cities in the world. The higher GDP means better pay resulting in more expensive housing, which is ideal for real estate investors.
Real Estate Appeal
Melbourne is one of the best cities in the world to invest real estate in because of how popular the city is. The population is 4.2 million which is the 2nd highest in the continent, and as mentioned before annually 8.9 million tourists visit each year. Melbourne is the most livable city in Australia in terms of wages and housing costs. Out of 140 major cities from around the globe, they scored Melbourne 97.5 out of 100, which ranks it at the top of the list for the fourth year now. Therefore, you‘ll always be able to rent out the property or sell it.
Melbourne has a positive capital growth. That means investing in real estate in the city today could result in a 100% return on investment in 10 years. Furthermore, Melbourne has a proven track record of having steady growth, which makes it a low-risk investment.
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