People buy properties to rent out, even at a loss, but claim tax relief. Debt and prices rise
Sat, Jan 10, 2015 - 5:50 AM
PRICES CREEPING UP: Apartment buildings in Wollstonecraft, a suburb in Sydney, where the median home price rose 14 per cent in September from a year earlier to A$655,000 (S$712,786).
PHOTO: BLOOMBERG
Sydney
AUSTRALIAN real estate investor Maureen Pound said losing money on three rental apartments she owns in Melbourne and Brisbane doesn't faze her. She's putting her faith in future profits from rising property values.
"I might lose A$30,000 ($24,285) on a property over 10 years...
Register to read this article. Log in if you are already a subscriber.Register to read this article. Log in if you are already a subscriber.Please log in or subscribe to continue reading.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes