Retiring in Australia: Know What You’ll be Getting into Before Making the Move
In many ways, Australia is a near-perfect destination for retirees. In fact, in the top places for a comfortable retirement, according to a report. Australia is renowned for its endless beaches, scenic landscapes, and abundance of natural resources. It also scores high in safety, health-consciousness, and laid-back lifestyles. In addition to its highly developed and sophisticated cities, its moderate winters make it a popular destination for retirees seeking to escape from harsh winters and instead enjoy warm, pleasant climates. If these facts are not enough to convince you to buy that land for salein Burnside, here are some other considerations to look at:
Economical and Political Climate
The last time Australia suffered a recession, the world wide web had not yet existed. Unlike most of the developed world, the country was able to shrug off the global financial crisis and its economy continued to grow steadily. No other rich country has ever managed that feat.
Australia is also known for its low crime rate, with crime levels hitting as low as those of Northern European countries. The latest report from the Australian Institute of Criminology reveals that the country’s murder rate, including homicide rate, has been decreasing since 2005, and it now falls to a record low of one person per 100,000. Even traditional street crimes such as robbery, home burglary, and motor vehicle thefts are at an all-time low.
Housing and Living Expenses
Comparative to the quality of life, some of the least expensive cities in the world to live in is found in Australia. Of course, as with every other country, the cost of living varies from city to city. For a comfortable retirement in Australia, a couple may need an annual income of about AU$ 61,000 per year. For singles, they would need around AU$ 43,000. They should have enough money to pay for occasional holidays, including international travels, a good car, and house repairs.
The constant undersupply of housing in most cities have shifted the focus of the local residential market to renting over purchasing a property. Thus, investing in Australian property has become popular with many investors as well as people who are looking to retire in Australia due to its strong returns and stability.
Australia has always been known for its high infrastructure quality. The standard of communications and public services are also competitive as with other developed nations. In fact, a new wave of reform work that commenced in 2015 ensures that the country’s infrastructure services will continue to support the quality of life of many Australians as well as the country’s economic needs. This is according to the 2019 Australian Infrastructure Audit. It is estimated that by 2022, Australia’s transportation projects alone will hit an all-time high of AU$ 22 billion. As for infrastructure spending, federal and state governments have a committed pipeline of over AU$ 200 billion.
Retirement in Australia offers expats a quality of life that is surrounded by an abundance of natural hotspots, free from pollution and crime and away from harsh winters. In fact, no fewer than four Australian cities have made it to the top 10 list of the world’s “most livable cities” for four consecutive years.