Published 2 years ago • loading... • Updated 2 years ago

Australia to Ban Foreign Buyers from Established Homes for Two Years

Australia will impose a two-year ban on foreign purchases of existing homes, starting April 1, 2025, to improve housing supply, according to Treasurer Jim Chalmers and Housing Minister Clare O'Neil.
The government aims to free up around 1,800 properties annually for local buyers as part of their broader housing agenda.
Foreign investors currently account for about two percent of Australia's housing, making the impact of the ban debatable, noted by economists.
Economists believe that the foreign ownership ban may not significantly impact housing affordability due to the low proportion of foreign ownership within the market.

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Foreign buyers banned from buying existing homes for two years

Established homes will be off-limits and foreign owners will be forced to develop vacant land under new measures announced to improve housing supply.

2 years ago·Australia

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The Express Tribune

Center

Australia bans foreign investors from buying homes for two years

The Australian government has introduced a two-year ban on foreign investors purchasing existing homes as part of its efforts to address the country’s housing affordability crisis. The new restriction, which will come into effect on 1 April 2025, aims to free up properties for local buyers amid growing concerns over soaring property prices, particularly among young voters. Housing Minister Clare O’Neil made the announcement on Sunday, confirming…

2 years ago·Karachi, Pakistan

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NRC Handelsblad

Lean Left

Australia bans foreign home purchases until 2027

House prices: In a bid to curb price increases in the Australian housing market, the government is introducing a ban on foreigners buying homes. The government hopes…

2 years ago·Amsterdam, Netherlands (Kingdom of the)

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