Australia Property News

Do new Australian real estate rules discriminate against foreign investors?

by Mark Benson on November 22, 2014

Do new Australian real estate rules discriminate against foreign investors?

Do new Australian real estate rules discriminate against foreign investors?

In a move which many believe is political as opposed to financial, the Australian government has this week announced plans to introduce an application fee for foreign investors buying Australian real estate. At a time when the Australian real estate market is going from strength to strength, pricing out local would-be homeowners, there is serious concern for first-time buyers. However, do the new proposals discriminate against overseas investors?

In typical Australian no-nonsense style, the Australian authorities are looking to introduce a $1500 fee per property per investment by overseas parties. These funds will be used to beef up compliance issues relating to Australian real estate and in particular the breaking of rules by foreign investors. [click to continue…]

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