Australian Property News

Australian property popular with Aussie expats

Posted on Friday, October 08 2010 at 1:24 PM

The most common local investment for Australians working overseas is property, with 42 per cent of expatriates putting their money into the Australian property market.

According to www.smartcompany.com.au, a study by global banking giant HSBC has found that a large amount of wealth from Aussie expatriates is repatriated into Australia.

Apart from property, the other two most common local investments for Aussie expat workers is savings, making up 36 per cent, and equities, accounting for 23 per cent.

The HSBC study, which involved a survey of 4100 expat workers from 100 countries, found that Australian expatriates working overseas are the fourth highest earning nationality in the world, with 27 per cent earning more than $200,000.

Russia seems to be the most lucrative place for Australians to work, with 36 per cent of respondents working there earning more than US$250,000. Meanwhile 32 per cent of expats were earning more than US$250,000 in Bermuda and 27 per cent were earning that figure in Singapore.

As well as Australian expatriates putting money back into their home country, they’re also investing in their new country of residence, with savings and property being the two most popular options.

The Smart Company website quoted HSBC head of personal financial services Graham Heunis as saying Australian expat workers are enjoying a much better standard of living compared to when they lived in Australia, with 67 per cent earning more than they did at home and 61 per cent saving more money.

“They have more disposable income than they did in Australia and they’re spending more, but their high salaries allow them to save and invest more while still managing to reduce debt,” he says. “It’s certainly a good time to be an Aussie expat.”