Chinese national Qi Yang confirmed as buyer of Melbourne's $40m Toorak mansion
The agent for the deal, Jeremy Fox of RT Edgar, told SCHWARTZWILLIAMS, the sale is a positive for everyone - the vendors, the tax office, builders, and architects - and helps to keep the whole market moving.
Capital gains withholding tax too low for foreign residents says REIA
The threshold for foreign-resident capital gains tax withholding has been reduced to an unnecessarily low level, subjecting agents and conveyancers to additional red tape and costs for no good reason, says Malcolm Gunning of the REIA.
Treasurer orders foreign buyers to sell another 16 properties
The Treasurer Scott Morrison has forced the sale of another 16 residential properties that were bought illegally by foreign nationals, worth in total more than $14 million.
George Clooney report links South Sudanese corruption to Australian real estate
A $1.5 million Narre Warren property is in the headlines after a report by The Sentry Group showed the South Sudanese political elite amassed huge fortunes while the country battled civil war.
It is impossible to tell whether or not there has been additional foreign investment into established property illegally, but what we do know is that $61 billion worth of foreign housing sales was approved by FIRB in the 2015 financial year - and, not only is that number unprecedented, it’s...
New student visa rules will attract foreign families
Simplified student visa rules make it $360,000 cheaper for Chinese families to educate their children in Australia than in China, according to a new report.
Foreign buyer policies taking a toll, but not in Brisbane
Policies to deter foreign property investors have seen the level of foreigners in the market fall to 2.5 year lows, NAB's Residential Property Survey shows.
