The government seems to start to be really keen to attack the foreign investment in the Australian real estate market.
It is an easy political pick in a moment where the government needs to get money whenever they can.
Moreover the Australian government has been rebuked by the International body Financial Action Task Force headed by the Australian Roger Wilkins to turn a blind eye and not applying the usual anti money laundering provision compulsory in banking and finance – which is a big issue since there is a big anti corruption campaign in China pushing Chinese to try and smuggle out money
And already the various political lobbies are screaming that the real estate (specially apartments in the inner Melbourne/Sydney) will collapse with also ramifications on the building industry.
The real outcome will be interesting as the authorities statistics says that the mainly Chinese investments are big, but not enormous – but the people in general feels quite different (me included).
investorpolitico 