AS JUWAI revealed in recent reports foreign buyers have resumed scooping up Aussie homes
This time a beautiful Federation mansion in Lindfield for $6M; the second home sold through a video link to a buyer in Hong Kong.
This Lindfield property had only been on the market a fortnight!
These buyers not only gain Australian Title Deeds with the benefits of permanent residency and access to Australia’s public health system …
But currently there is a beneficial exchange rate as our dollar has lost its value!
IT has even been lower than this … and that would explain why when the FIRB Annual Report was issued a week ago:
–mainland Chinese property buyers investment in 2018-19 dropped to $6.1B
-down more than 50% from 2017-18; lowest since 2012-13
–Hong Kong Chinese investment of $2.8B in 2017-18 to $9.3B in 2018-19*
–Singapore buy-up increased from $7.8B to $9.8B
–Japanese investment increased from $2.2B to $3.8B
AS this was an established home the buyer in such case must have already gained ‘Permanent Residency’ through buying a ‘new home’ or even a level of a residential apartment development earlier.
HOW many of these foreign buyer housing transactions involve ‘Money Laundering’ …. ‘Black Money’ aka ‘Hot Money’ … ?
HOW likely is it that there is a high percentage purchased through this means when the Morrison Government exempted the Real Estate Gatekeepers from Anti-Money Laundering Laws in October 2018 … if this wasn’t so why would the Government have made this exemption?
WITH a whole Cohort of Australians locked out of home ownership including Professionals why hasn’t the Morrison Government withdrawn this exemption? Or is there some benefit in this exemption for the Liberal Party? Its politicians?
IT might be a good idea for the people of Lindfield to ask their MP about these matters?
Send your MPs an email:
Jonathan Richard O’DEA
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