Government Cracks Down On Illegal Foreign Property Investment

In an article for Your Investment Property, Phil McCarroll talks about Government’s crackdown on hordes of illegal properties. The Federal government has now divested 19 properties since introducing its crackdown. Presently, 7 properties have been confiscated and their total price runs up to more than $10 million.

Some of the properties were compliant in the past but given the alteration to the rules of foreign property investment, they have become non-compliant and shall be divested, too. In short, there may be more forced sales in immediate future.

You can read the original article here.