Owning property on Hamilton Island represents a unique opportunity as the Island is recognised as the gateway to the Great Barrier Reef - one of the seven natural wonders of the world.
Hamilton Island lies on the same tropical latitude as Honolulu in the Northern Hemisphere and Mauritius in the South, enjoying an average year-round temperature of 27°C (80°F), making it perfect to visit any time of the year.
The utmost care has been taken to conserve Hamilton Island with more than 70% of the Island preserved in its natural state. Property supply and pricing reflects this commitment to preservation and makes Hamilton Island one of the most sought after property markets in Australia.
With easy access to an unrivalled island lifestyle, breathtaking natural beauty, extensive infrastructure investment and a variety of property ownership options from apartments to premium luxury homes, there are plenty of reasons to invest in Hamilton Island.
Title on Hamilton Island
The title on Hamilton Island is leasehold, with Hamilton Island Enterprises Ltd (HIE) holding a Perpetual Lease over the island from the Queensland Government. The current lease is 99 years with an option of a further 99; with the first lease due to expire on the 31st March 2078.
All property purchased on the island is by way of a Sublease of the Perpetual Lease (or head lease), and this structure offers considerable savings for investors in relation to stamp duties payable with certain properties on the island when comparing to freehold title.
A copy of this document is provided to potential purchasers and their legal representative at the time of purchase, or upon request. Major Australian banks accept this form of title when lending to purchase.
Foreign Ownership
Recent changes made by the Australian Government encouraging foreign investment means overseas investors are generally also able to purchase property on Hamilton Island.
With the growth in numbers of international travellers to Hamilton Island and the recent completion of world-class developments around the Island, interest from overseas investors will undoubtedly increase.
Contact an Australian lawyer for a full and detailed explanation of the requirements as they apply.
