Here is Looking Out for the Chinese Investors!
An article on the website Your Investment Property starts with how a shift in Chinese policies may see Chinese investors rushing to the Australian shores and why this is the cause of both joy and apprehension.
While foreign investment, going by the rules, is limited to new dwellings, some investors are breaching the regulations and investing in established dwellings. These investors need to be prosecuted. In the event of a breach, the penalties imposed on foreign investors should be equivalent to the price of property they purchase and not some token amount. Stringent evaluation by the Foreign Investment Review Board (FIRB) will be more than welcome, especially when it comes to the established dwellings.
You can read the original article here.