Property purchase costs in Australia compared to Pacific
Australia: Round trip transaction costs (%).
The total cost of buying and then re-selling a residential property, including all costs (except the sale price itself), expressed as percentage of the property value.
- The property is purchased by a non-resident foreigner in the country where he/she is buying
- The property is worth US$250,000 (250,000 for Europe)
- The property is paid in cash
- The property is a condominium located in a major city
- The property is not newly-built
- The property is bought from an individual and not a developer or real estate holding company.
Transaction costs can be broken down into four major cost areas:
- Registration costs
- Real estate agent fees
- Legal fees
- Sales and transfer taxes
Other incidental costs (survey fees, residency permit cost, or company setup costs), are not included in our calculations. In most cases value added tax (VAT) is not included, because our figures reflect the purchase of old, not new, properties.
Costs paid by buyers and sellers vary widely. Agents and lawyers costs are often negotiable. Buyers of expensive properties often pay proportionately lower agents fees. For the full spectrum of possible transaction costs see the Country | Buying Guide.
For fuller details see the Data FAQ.
Source: Global Property Guide Research
Australia has excellent house price statistics. Quarterly house price indices are available from the Australian Bureau of Statistics. Median house prices are published in the media releases of the Real Estate Institute of Australia. The Reserve Bank of Australia is the best source of analysis and developments in the housing market, as well as of general economics statistics. Economic reports are available from ANZ Bank and AMP Banking.