Open figure viewer
Significance
The new rules, which include steeper taxes on foreign purchases of existing domestic properties, are part of a Labor strategy intended to free up more housing stock. The additional tax revenue will be invested in more public housing, while fees for foreign investment in properties aimed specifically at rental markets will be cut.
Impacts
The government will instruct the Foreign Investment Review Board to be more rigorous in reviewing property transactions.
Soaring home costs will increase calls for housing-related tax reform, especially a reduction in stamp duties.
Changes in immigration rules, including a lower intake of international students, will see some reduction in the demand for housing.
Keywords:
Australia,
AP,
Asia,
economy,
politics,
foreign investment,
government,
policy,
property,
regulation,
social,
construction,
education,
election,
fiscal,
monetary,
prices,
Real estate
© Oxford Analytica 2024. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2024
You do not currently have access to this content.
