Home away from home

3 Minute Read

Most of us call Australia home. But as the global property market continues to open up internationally, Aussies are increasingly open to the concept of purchasing property offshore – either as an escape, an investment, as a link to home for migrants to Australia, or as a home for those studying overseas. But dreaming of throwing back a morning piccolo on the balcony of your heritage apartment in Florence and actually buying a property overseas are very different things. Here’s what you should consider.

  1. (Still) location, location, location

It’s the cardinal rule at home. And it still holds true overseas. But it comes with an added twist. It’s not only about buying in the best spot according to your criteria, but it’s also about ensuring you’re allowed to buy in the country you desire. For example, buying in most European countries is relatively straightforward. But buying in Bali can have hurdles. Do your research.

  1. They have tax too

Investment properties come with a whole swathe of tax implications at home. Buy overseas and not only will you have to grapple with that countries’ tax implications, but you may also have tax obligations on that purchase here at home. In some cases, the hidden tax consequences can make what seem like a relatively cheap purchase decidedly more expensive. Again, do your research, preferably with a local specialist.

  1. Finding the funds

Finance is the key to purchasing any property. Question is, do you raise the money in Australia or the country you hope to buy in? Either route poses challenges, but they’re not insurmountable. And that’s where HSBC’s International Services can help. Our global presence in over 82 countries, coupled with our local knowledge, can help smooth the path.

  1. Moving money

Making regular mortgage repayments from your home turf can be hard to estimate when you’re paying in another currency. Here’s where having an account like the  HSBC Everyday Global Account really is worth its weight in gold. Having access to unlimited real time currency exchange quotes online means you can lock in a rate before you pay, giving you greater control over your budget and piece of mind.

  1. International landlord, local currency

Rent out your foreign domicile and you’ll generate additional cashflow. The only catch is it’s in another currency. But it needn’t be perpetually locked that way. An HSBC Foreign Currency Account offers the flexibility to take advantage of favourable exchange rates hitched to the convenience of an Australian bank account.

So, if you’re thinking about doing some overseas research, apply now for the award winning HSBC Everyday Global Account and lock in a great rate, before you go.  Happy hunting.



No ATM or transaction fees are charged by HSBC or Visa. Some ATM operators and merchants may charge a separate fee.

This article provides general advice only and doesn't take into account your objectives, financial situation or needs. Consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before acquiring this product, available on hsbc.com.au or by calling 1300 308 008