Residences in Sydney, New South Wales. From April 1, foreign-owned companies and temporary residents will be barred from purchasing established property in Australia. - AFP
SYDNEY: The Australian government has announced a two-year ban on foreign entities purchasing established residential property in the country.
"Today the government is announcing that we are going to ban foreign ownership of existing property in Australia," Australian Housing Minister Clare O'Neil told broadcaster Sky News on Sunday (Feb 16), calling the ban "an important move."
