Aussie Expats Feel the Pain Upon Return
The property market across the globe continues to evolve in wake of the recent global financial crisis. Some markets are less expensive, but others more. One of the most expensive seems to be Australia. You gotta know its high when an expat coming home to Australia from London is complaining…
(Quote from an article on Examiner.com.au):
“One former expat, Daniel returned to Sydney from a five-year stint in London. Now he and his wife ‘don’t intend to go anywhere near the Australian property market’ despite having saved more than $200,000 for a deposit on a home.
‘The price of property (and living) is more expensive here than most places we have travelled,’ he said, declining to give his full name.
Only those who bought into the boom ten to 15 years ago can really benefit from the price rises, Daniel said.”
There have been a lot of articles about Aussie expats returning home in this market, so there must be a lot of people out there feeling the pain.