What should be done about foreign investment in Australian real estate?

[redwing]

Interesting piece here with a variety of views

What should be done about foreign investment in Australian real estate?

Is foreign investment good or bad? Economists debate.
Post Comment

Foreign investment into Australian real estate has attracted more attention than almost any other housing issue in recent times.

Some believe that foreign investors are responsible for rising home prices.

Others, like Malcolm Gunning of the Real Estate Institute of New South Wales, claim foreign investors are helping Australia?s economy.

Property Observer asked the experts, "What should be done about property investment from foreign buyers?"

Cont.......

 

[BMW]

What should be done about foreign investment in Australian real estate?

Say Thanks!

 

[BayView]

Say Thanks!

Correct.

Given that 95% of the population are supposedly poor/broke;

How on earth are we expected to get our properties to double every 10 years if we leave it up to the under-class low-end bogans (who are proliferating at a massive rate compared to the well-to-do's who are having no kids) to buy the joints?

All the retirees and pensioners are down-sizing; there's bugger-all folks left.

There's not enough of the 5%-ers to pump up the demand.

Bring on those oober-rich cashed up Chines folks, please.

Just make sure we whack 'em a wad of tax for the privilege if they wanna take the rent cash back home, of course...

I just want my cake and eat it, of course..

 

[norwoodman]

We often hear talk about foreign investment in Australian residential property as if it is a problem - driving up prices and locals out of the market. But is it really the case? The most recent figure I saw is that foreign investment makes up less than 0.5% of the total value of property transacted in Australia - which is close to insignificant.

The other thing is that regulations only allow foreign investment in new properties, most property changing hands in Australia is established property.

 

[TMNT]

"Foreign Investors don't need companionship. They need to be isolated and studied so that it can be determined what nutrients they have that might be extracted for our personal use."

Homer Simpson

 

[Dbz_Vic]

LOL at some of the replies here. I agree its blown way out of proportion. Every developed nation is doing it, they all want China's money. Its a bit the kettle calling the pot black really, we all want prices to go up so it benefits us yet we don't want foreigners owning it. A few locals getting outbidded at those prestige suburbs by "Asian" looking locals and its then "Foreign investors strikes again!".