The prices of real estate are exploding like never before all over the world. One of the many reasons for owning a real estate is the ever increasing demand for the rental properties: homes, offices and factories. The rents on real estate especially homes are increasing substantially every year thus proving to be a good source of additional income for the home owners. As an owner of real estate you can buy another piece of real estate by mortgaging your existing property and paying the loan installments of the new estate from its rental income.
Private Rental Market
According to Australian Bureau of Statistics, the private rental market is the second largest source of housing after home ownership in Australia. There are low income groups who are unable to buy their own homes. There are young people who have recently moved out of their homes and also those who hate to buy homes and live on rent by choice. The private home rental market accounts for 20% of the Australian households while the public sector accommodates only 6% of the Australian households. The demand for rented properties is phenomenal.
Another startling fact revealed from the statistics about the investment in real estate is that the real estate investors tend to have higher income than those who do not own any property. The median weekly income for the real estate investor was $ 1,162, significantly higher than the $ 766 per week of the non-real estate investors.
According to the statistics available, 65% of the investment in real estate provides for a secure long term investment. Investment in real estate is highly regarded means for providing for the retirement travails when the pension and free grants provided by the government cannot suffice to meet the emergent and costly needs of the old age.
Owning real estate is one way of doing public service by way of providing
homes to the homeless. Whatever your rationale, investing in real estate
is a sound investment proposition in the long run.
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