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Australia cracks down on illegal home buying by foreigners

Australia cracks down on illegal home buying by foreigners

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by February 7, 2017 World News

 

Sydney (AFP) – Australia has forced the sale of more than Aus$100 million (US$76 million) worth of residential property bought illegally by foreigners since it introduced a robust investment regime, the government said Monday.

Canberra established new rules in December 2015 to fine and even jail foreign nationals who flout laws that only allow them to purchase new dwellings, not pre-owned residential property. We’re sorry. You don't have permission to access this page. Please sign up to have full access to this page.

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