australia property market

Australia to crack down on foreign investors buying up property… as it’s revealed Chinese owner has found a buyer after being forced to sell one of Australia’s most expensive mansions

• PM Tony Abbott announces tough new laws on foreign property investors
• The laws are prompted by concerns that Australians are being priced-out 
• ‘It’s about giving locals a fair go,' Mr Abbott says
• The changes will include a $5000 fee for foreign buyers to enter the market
• They come a day after the forced re-sale of one of Sydney's most prestigious waterfront properties, Port Piper's Villa del Mar 
• Foreign investment in Australian property tripled in 2013-14
• $35-billion poured into market from overseas in last in financial year
• Treasurer Hockey says illegal buyers have until Nov 30 to come forward
   

May 2 on daily mail

foreign investment probe:
The widened probe into foreign investment in Australian real estate comes a month after the Federal Government announced plans to crack down on rogue foreign investors amid concerns it was helping to fuel a dangerous property bubble in Sydney and Melbourne.

While foreign investment laws prohibit foreign investors from purchasing existing residential real estate, they are encouraged to boost the housing supply by investing in new housing developments.

Who's the real culprit behind soaring house prices? (Hint: it's not Chinese buyers)

 Significant investment visa 

 immi.gov.au on complying investments 

 Glenn Stevens' view 

GDP: March quarter growth above expectations

Finally, proof we are in a property bubble from SMH 

australia property bubble on wiki 

sydney property bubble

IMF to probe Australia's record property and debt levels in June 2015

 

beware of pitfall in australian property buys

wikihow on how to buy property in australia 

misuse tax 

 Tax Facts of FHSA ( First Home Saver Accounts )   

 increase in medicare levy to affect other tax rates

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