Property expert, Peter Koulizos, shares his top tips on how to retire comfortably

·

Owning just one investment property may not be enough to retire in comfort, The Daily Telegraph reports.

But there are ways to work out what will deliver the property wealth you’ll need.

Property Investment Professionals of Australia chairman, Peter Koulizos, tells the newspaper “it all depends on what ‘retiring comfortably’ means to you.”

Mr Koulizos says people shouldn’t expect to live off one property’s rent because a big chunk of the income goes back into repairs, maintenance and property management fees.

Property Investment Professionals of Australia chairman, Peter Koulizos.

“To earn $100,000 of rental income you need the equivalent of about $2.5 million in property freehold,” he says.

Instead, Mr Koulizos says investors should start early, buy in a good location with strong capital growth potential, pay it off and be patient.

He says most people are wage earners and will also have superannuation at retirement.

“For me, super will pay for the necessities and property will pay for the niceties.”

Source: The Daily Telegraph.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Alpha restaurant to host centenary celebration honouring Mikis Theodorakis

On Sunday, August 24 at 12pm, Alpha restaurant will host 'Centenary Tribute to Mikis Theodorakis' featuring the Australian Hellenic Choir.

Phlavour Revolution: Greek duo deliver home-cooked goodness to your doorstep

The duo behind restaurant Bahari in Richmond have recently launched a new venture, called Phlavour, ‘Mediterranean Ready Meals.’

Webinar for Greeks abroad tackles key tax issues and draws hundreds

The first TaxWebinar dedicated exclusively to Greeks abroad and tax residents of other countries was held on Wednesday, July 9.

From passports to tax reform: Loverdos sets agenda ahead of Australia visit

Loverdos has confirmed that he will be visiting Australia from 8 to 26 October, acknowledging the government’s absence from the country.

‘I’m not done yet’: Ange Postecoglou reflects on heritage and coaching dreams

Ange Postecoglou sat down with The Greek Herald to reflect on his philosophy and his cultural heritage. Read the interview here.

You May Also Like

Australian researchers put ancient Greek ‘memory palace’ learning technique to the test

An ancient Aboriginal-Australian method for memorisation is more effective than the ancient Greek ‘Mind Palace’ method.

La Trobe University celebrates 40 years of Greek language teaching

La Trobe University’s Greek Studies program has celebrated 40 years of Greek language teaching at the Melbourne University.

Ablaze Greek-flagged tanker an environmental threat after Houthi attack in Red Sea

Crude oil-filled and aflame, the Greek-flagged tanker Sounion in the Red Sea poses a significant environmental threat after Houthi assault.