Australia risks housing correction with foreign buyer tax hike


SYDNEY: Soon after Australia’s New South Wales state announced it was doubling the tax for foreigner home buyers earlier this month, calls started flooding in to Sydney-based real estate agent Shan Lin.

“My phone never stopped, I charged my phone three times, no kidding – overseas clients, overseas agents, my channels in China,” said Lin, who deals mostly with Chinese-based investors.

Limited time offer:
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Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

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Business , Australia , real estate , tax

   

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