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Norfolk Islands Real Estate Market Over View

 


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Norfolk Islands real estate is quite vibrant as the government wants to promote the island. The prices are quite high in comparison to the international real estate.

Norfolk Islands is a territory of Australia and the present system of real estate division of land was done when the Pitcairn islanders settled on the island in 1856. At that time the real estate was carved in the following way. A 20 hectare real estate in Norfolk Islands plot was granted to the head f each family. While the 10 hectare real estate in Norfolk Islands plot was given to males that had married and settled in the territory.

The problem now with the real estate in Norfolk Islands is whether the ownership is family based or individually based as it is overlapping. The Norfolk Islands real estate for sale is quite lucrative. For luxury cottages that have more than 3 bedrooms with attached baths, sauna, double hardwoods, double garage and are complete with all furnishings and appliances along with 5-10 acres of wooded bush land and access to sea would cost approximately AUD 1.5 million.

Quality Norfolk Islands real estate is also available here. Most residents and foreigners can own properties here without being resident in territory. Norfolk Islands real estate for sale is freehold. Investors can also rent out the Norfolk Islands real estate and homes and can enjoy a truly tax free income.

The government advises investors to check when they are purchasing the Norfolk Islands real estate. The government wants foreigners t invests in the territory and this is also a great way of obtaining a general entry permit (GEP) that allows them to stay and work here as well. Those that have stayed on the island for duration greater than 5 years become eligible for full residency and this is the same as gaining the citizenship of the island.

Tourists are drawn to the white beaches that Norfolk Islands has. There are plenty of modern hotels, cottages and resorts and other real estate in Norfolk Islands that is available for foreigners as well. Even though Norfolk Islands is self governing, the laws of Australia also apply and hence the rights of the property owners are protected on the island. Currently there are no restrictions that have been placed for those that are non residents and wish to own the Norfolk Islands real estate for sale.

Lawyers are required for completing all the real estate in Norfolk Islands deals. It takes about 6 8 weeks for the transfer of the real estate in Norfolk Islands for sale to take place after the due diligence has been completed. Connectivity is quite high and the Norfolk International airports have flights that originate to and fro from Australia and New Zealand.

Taylor White is an international real estate investor and leads the charge at International Real Estate Listings the worldwide leader in Norfolk Islands real estate for sale, Norfolk Islands real estate exchanges, and Norfolk Islands rentals . Norfolk Islands real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.

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