Proposed legislation designed to deter foreign investors from investing in Australian homes will also impact Aussies currently working overseas.
Australia has experienced a boom property prices, much of which is being blamed on the increase in the number of foreign investors.
The government has been introducing a range of measures to make investment by foreigners more expensive. The latest change is removal of the Capital Gains Tax (CGT) exception completely. Continue reading Expats former homes to be fully taxable→
New Zealand, like Australia, has grown their population through migration with the objective to adding to economic prosperity. In New Zealand’s case, this population growth has put increased pressure on infrastructure which has struggled to keep up.
Australia is an attractive market for foreign investors, particularly when in comes to owning property including land. However, with escalating property prices in Sydney and Melbourne, the Australian and State Governments have made it more restrictive for foreign residents to purchase residential property in Australia.
In this television interview, David Chin of market intelligence firm BasisPoint shares his insights on the impact of recent clampdown on Chinese capital controls on the Australian property market.
Drying up of bank lending for overseas investors has seen the market respond with the development of innovative financing solutions.
The BasisPoint inaugural conference on non-bank financing will establish an industry-wide network to discuss the financing problems faced by developers, property marketers and agents in managing settlement pipelines.
