Get to know your acronyms and jargon with this list of definitions. estimate of the price of a property, usually provided by a real estate agent. The Commercial Building Disclosure (CBD) Program requires energy Most real estate agents who are advertising office space with a net lettable area of Colliers is the leader in global real estate services, defined by our spirit of enterprise. Broker - Colliers International South Africa, Cape Town CBD Integrity, ethics and empathy guide every interaction and define our.
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The Reserve Bank Board governs all monetary and banking policies of the RBA, which aim to support the growth and stability of the Australian economy. The board meets on the first Tuesday of each month except January , to discuss and announce matters of policy, including any changes to the OCR. An investment vehicle for real estate, whereby investors can buy a stake in property assets including buildings and mortgages without tying up their capital in the long term.
REITs can be traded, like stocks, on major exchanges. They give investors exposure to large-scale real estate assets, including warehouses, hospitals, shopping malls and apartment buildings. A tax on legal documents that relate to the transfer of assets or property.
Property sales and acquisitions throughout Australia are subject to stamp duty, although rates vary in each state and territory.
A form of ownership created for multi-level apartment blocks, and horizontal subdivisions with shared areas such as car parks and swimming pools. Strata title properties consist of individual lots and common property. Lots can be apartments, garages or storerooms, and each is assigned a lot owner on the title document.
Common property is defined as everything else on the parcel of land that is not within a lot — such as stairwells, driveways, gardens and so on. The co-owners of an undivided interest in the same property. Each has an equal right to the possession and use of the property. Each owner can bequeath their interest to beneficiaries through their will, whereas in a joint tenancy, if one party dies their share passes automatically to the remaining owner or owners.
A deposit held at a financial institution for a fixed term that may range anywhere from a month to a few years. Typically, a longer term will offer a higher interest rate, and if the cash is withdrawn early, a penalty may be charged. A property where the owner holds the title to the building and the land it is on. A Torrens Title document will list all details and interests affecting a property and its land, including easements, caveats, mortgages, covenants and past changes in ownership.
A formal process of establishing the value of a property from an objective and independent point of view. In most Australian states and territories, a formal valuation can only be provided by a qualified valuer who has the necessary qualifications and training.
A measurement of the future income an investment property is expected to bring in. Yield is calculated annually as a percentage of the cost or market value of the asset.
Gross yield is the income expected to be received before expenses; net yield takes into account running costs of the property, including maintenance costs, management fees and so on. Yield is particularly important to commercial real estate investors, because it is usually the main source of income they expect to receive from their investments.
Capital growth rates for commercial buildings are often not as high as for residential properties, so the yield on this type of purchase is often a more important factor when deciding whether to buy. Find Real Estate In Australia. Buy or sell a business or franchise on Domain Business! Start typing to search the Commercial Real Estate News site.
Amenities The features and benefits of a property that create value. Amortisation The drop in the value of an intangible asset over a specified period of time.
Appraisal An informal estimate of the price of a property, usually provided by a real estate agent. APR annual percentage rate The annual rate charged for borrowing or made as a result of investing expressed as a single percentage value. Arrears Overdue payments on a debt or liability. Asset management Activities or services designed to maintain and increase the market value of any asset so the owner can benefit from returns.
Body corporate A group formed by the owners of a piece of land that has been subdivided into flats, apartments or units. Capital In general, this refers to financial resources available for use. CMA Certified Management Accountant A qualified professional who has skills and expertise in financial accounting and strategic management.
Conveyancing The process of transferring property between a buyer and a seller. Contingency A potentially negative economic event that may — or may not — happen in the future. Covenant A condition in a real property deed or title that limits or prevents someone from using a property for certain purposes.
CPI Consumer Price Index The average change over time in how much households pay for a fixed basket of goods and services. Depreciation The reduction in value of a tangible asset over time.
Due diligence Investigating a potential investment or purchase to confirm all material facts. Easement The right of one party to use the property of another party, usually for an agreed fee.
Encumbrance A claim against a property by a party who is not the owner. Escrow An arrangement for a third party to hold funds on behalf of the other two parties in a transaction. Force majeure A clause included in a contract that removes liability for the impacts of unforeseen events such as natural disasters that could stop either party from meeting their obligations. Land tax An annual tax on the value of a piece of land.
Line of credit An arrangement whereby a financial institution sets a maximum loan amount the customer can draw on at any time. Mortgage insurance An insurance policy that the lender or borrower can purchase to protect themselves against mortgage default. Negative gearing Borrowing money to buy an asset and receiving income other than funds used to cover the loan interest and maintenance costs from the investment.
Net present value A measure widely used to determine if the future expected cash flow from a rental property has a present value higher than the funds required to invest in the rental property. Official Cash Rate of interest OCR The OCR is the rate of interest the central bank charges on overnight loans to commercial banks and it influences the price of borrowing money in Australia.
Ombudsman An official or body that investigates complaints against businesses, financial institutions and governments. Quantity surveyor A professional adviser to the construction industry. REIT Real Estate Investment Trust An investment vehicle for real estate, whereby investors can buy a stake in property assets including buildings and mortgages without tying up their capital in the long term. Stamp duty A tax on legal documents that relate to the transfer of assets or property. Strata title A form of ownership created for multi-level apartment blocks, and horizontal subdivisions with shared areas such as car parks and swimming pools.
Tenants in common The co-owners of an undivided interest in the same property. Term deposit A deposit held at a financial institution for a fixed term that may range anywhere from a month to a few years. Torrens Title property A property where the owner holds the title to the building and the land it is on. Valuation A formal process of establishing the value of a property from an objective and independent point of view.
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