Chinese-born Australians prioritise home ownership: St.George research
"Chinese-born Australians consistently place a high importance around family, particularly with owning bricks and mortar," says St.George’s general manager for retail banking, Ross Miller.
Chinese demand for Australian real estate is declining
Government policies in both Australia and China are eroding Chinese buyer demand for local real estate, says Michael Pallier, managing director of Sydney Sotheby's International Realty.
Senate clears legislation to slug foreign owners with tax if they leave their properties vacant
The senate has cleared legislation that allows foreign owners to be charged an annual fee if they leave their properties vacant for six months or longer.
Exemptions could apply to land tax and stamp duty increases for foreign developers
Finance minister Victor Dominello is proposing new legislation that could allow foreign-owned developers to qualify for upfront exemptions to stamp duty and land tax rises outlined in the June budget.
'Super City' Sydney seventh on Knight Frank foreign investment list
Knight Frank's inaugural report, Active Capital – The Report 2017, which looks at foreign commercial real estate investment in ten 'Super Cities', lists Sydney in seventh place.
Capital gains withholding tax too low for foreign residents says REIA
The threshold for foreign-resident capital gains tax withholding has been reduced to an unnecessarily low level, subjecting agents and conveyancers to additional red tape and costs for no good reason, says Malcolm Gunning of the REIA.
