Advisers have cheered the creation of a $15 million fast track to permanent residency for wealthy foreigners, in a move by the Abbott government to harness Asia’s wealth to boost economic growth and job creation.
But the move has also sparked concerns much of this investment will flow into Australian property, driving prices up even further.
Read more: http://www.smh.com.au/business/visa-for-the-wealthy-fuels-house-price-fears-20141016-116u42.html#ixzz3GMeL9kdo
DISCLAIMER: This disclaimer is a requirement of the Securities Industry Legislation Act. The writer of this article is not a practicing lawyer or financier. The information, statements and opinions expressed are intended only as a guide as to some of the important considerations to be taken into account relating to property investment. I strongly suggest that you consult with licensed professionals such as accountants, Lawyers, Valuers, Development Consultants, Quantity Surveyors and others, BEFORE signing any contracts or other binding documents.