Australian property & mortgages
Steve Douglas
Specialist Mortgage and Australasian Taxation Services
122 Middle Road, #07-08 Midlink Plaza. Tel: 6293 3858, www.smats.net
Business established: 16 years
Niche: Australian property finance and taxation advisory service.
During a trip to Singapore in 1995, Australian Steve Douglas realised there was a demand for professional Australian tax advice from overseas investors, which he was able to satisfy. Together with his wife Helen and Singaporean business partner Ravin Chatlani, he spearheaded Specialist Mortgage and Australasian Taxation Services (SMATS) - offering services to maximise after-tax returns and reduce borrowing costs for Australian property investors.
SMATS has come a long way because of its willingness to put the interests of its clients first and its ability to listen and offer sincere advice. This approach has led to much success, allowing the business to expand internationally to Hong Kong, London, Australia, Dubai, the US and China - with more locations
planned for 2011.
TF: What are the highs and lows of your business?
SD: The best thing about my job is customer satisfaction, when I help someone achieve what they thought was out of reach. As for challenges, it's a big world and we have to travel more than 100,000 miles a year to ensure we give our clients much needed face-to-face time.
TF: What Aussie market trends do you expect in 2011?
SD: Australia's residential property market will experience a separation between low-end undesirable flat growth and middle-class quality. And since it's expected to be a tough year for businesses, the commercial market will be sluggish. As for luxury property, it will never go out of style - its becoming scarcer and scarcer in Australia. So if you want it and can afford it, buy it!
TF: How did the Queensland floods affect the property market?
SD: The situation initially created some confusion, but the property market seems to have taken it in its stride. While it creates short-term purchasing opportunities for the brave, there are strong underlying fundamentals in the market which I'm still very bullish about.
TF: Any advice for non-Australian citizens investing in Australian property?
SD: Don't be afraid to finance - its tax effective, makes purchases affordable and the strong currency is an advantage. It's not difficult to get a loan for 80 percent of your purchase price and Australia is a proven safe and stable market - not so much for the speculator, but it's a definite winner for the long-term, sensible investor.
2011 Aussie investment hot-spots
Western Australia Bayswater or Ascot.
South Australia Anywhere coastal.
New South Wales North Shore and the eastern suburbs.
Queensland Paddington and Kelvin Grove.
Victoria The market is cooling, so anything that's liveable. Avoid small apartments and student accommodation.
Posted Apr 2011
