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Australian foreign property feedback needed by 9 May

Posted by: In: Real Estate 19 Mar 2014 Comments: 0 Tags: ,

The Australian parliamentary committee looking into foreign real estate investment has agreed terms of reference and will take submissions up until Friday 9 May

An Australian parliamentary committee has today formally been asked to investigate and report on foreign real estate investment. It will take submissions on the sector up until by Friday 9 May.

House of Representatives Standing Committee on Economics Treasurer Joe Hockey has asked the committee to inquire into and report on foreign investment policy as it applies to residential real estate, reports ABC News.

Submissions can be made by any interested individual or body and should follow the terms of reference. They can contain facts, opinions, arguments and recommendations for action.

For full details of how to make a submission, go to: http://www.aph.gov.au/Parliamentary_Business/Committees/House_of_Representatives_Committees?url=documnts/howsub.htm#who

Yesterday, Australia China Business Council president Duncan Calder argued that the effect of Chinese property buyers in Australia had been overstated. “I think there are a lot of positives from the flow of Chinese investment into real estate. If we didn’t have those investment flows, I think what would follow is we would see a fall-off in our property development, and that would mean a loss of jobs for Australians.”

Chinese investors have helped to boost the supply …read more

Source: OPP



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