Comment on Daily Discussion Thread: Wednesday, October 16, 2024

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MeanElevator@aussie.zone ⁨5⁩ ⁨weeks⁩ ago

Foreign buyers. Simple as that. Buying a property here ensures safety of their money (talking about China specifically). Whether it’s buying through a shell corp or a local agent/entity, those places are not there to be lived in. They’re just there to safeguard cash.

Not to mention to beef up a property folio for an agency and artificially inflate the value of the building.

From memory, foreign ownership rules have tightened up, but there’s plenty of loopholes still.

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