‘Hot Money’ pushes up House Prices …
As Michael West correctly points out what is behind the sky high property prices is money laundering ….
“Launder your Money through Australian Real Estate”
As these ‘investors’ are lured and enticed by the prospect of a Permanent Resident Visa!
… This is apart from low interest rates, government grants, and tax benefits for property investors from negative gearing and capital gains tax … together they are all pushing up house prices!
With the first wave from China that began in the late 1990s during the Howard Government enticing the Middle Class Chinese to invest in our education and real estate to gain ‘Flexible Citizenship’ which led to a housing boom in the early 2000s peaking in 2004 … as Refugees were scapegoated …
And so it continued again peaking in 2015 with the high-rise Precincts across Sydney to forever change our low-rise bushland suburbs ..
Then in 2021 the Singaporeans eclipsed the Chinese with $20Bn investment in our real estate
NEXT … the Malaysians are targeted too!
“Where is the Best Place to Buy Land in Australia”?
The East Pilbara in Western Australia, Broken Hill second, Melbourne for property development …https://malaysiandigest.com/where-is-the-best-place-to-buy-land-in-australia/
AND … SINGAPORE Again!
“Singapore REITs double their Overseas Investment to US$12BIL”
‘ … deep liquidity pools in overseas markets like the U.K., U.S. and Australia, as well as more alluring freehold and longer lease terms will maintain the draw of markets abroad, said Natarajan. “We expect this trend of overseas acquisitions to continue.” ‘