New Foreign Home Buyers Rules - Printable Version +- Melbourne Chat (http://www.melbournechat.org) +-- Forum: Melb Chat (http://www.melbournechat.org/forum-3.html) +--- Forum: Melbourne Life (http://www.melbournechat.org/forum-5.html) +---- Forum: Real Estate (http://www.melbournechat.org/forum-20.html) +---- Thread: New Foreign Home Buyers Rules (/thread-1339.html) |
New Foreign Home Buyers Rules - glen - 27-04-2010 Hi guys, I guess many of you will have heard that there are new rules regarding foreign investment in housing in Australia. Here are a few snippets from the key reports: Quote:New curbs on foreign home buyers [url="http://www.theaustralian.com.au/business/property/new-curbs-on-foreign-home-buyers/story-e6frg9gx-1225857656381"]http://www.theaustralian.com.au/business/p...x-1225857656381[/url] Quote: Foreign home buyers backflip [url="http://www.smh.com.au/national/foreign-home-buyers-backflip-20100423-tjb3.html"]http://www.smh.com.au/national/foreign-hom...00423-tjb3.html[/url] Here are some more articles on the subject: [url="http://www.abc.net.au/news/stories/2010/04/24/2881985.htm"]http://www.abc.net.au/news/stories/2010/04/24/2881985.htm[/url] [url="http://www.heraldsun.com.au/money/australian-federal-government-gets-tough-on-foreign-ownership-rules/story-e6frfh5f-1225857643432"]http://www.heraldsun.com.au/money/australi...f-1225857643432[/url] [url="http://www.news.com.au/breaking-news/crackdown-to-help-first-home-buyers/story-e6frfku0-1225857780309"]http://www.news.com.au/breaking-news/crack...0-1225857780309[/url] [url="http://news.smh.com.au/breaking-news-national/clampdown-on-foreigners-buying-property-20100424-tjky.html"]http://news.smh.com.au/breaking-news-natio...00424-tjky.html[/url] The question I have is whether the prices will actually fall or just level off. I am guessing the prices may fall maybe 5-10% and then level off. Any other predictions? Cheers, Glen New Foreign Home Buyers Rules - POWERZONE - 27-04-2010 No changes predicted - house prices were blown out in the early 2000's - long before this rule was changed and changed back. House prices are mostly determined by the supply/demand ratio - lesser so by interest rates, foreign ownership, government grants etc. New Foreign Home Buyers Rules - glen - 27-04-2010 I think the foreign investment free for all was only there for about 2 years!! New Foreign Home Buyers Rules - POWERZONE - 27-04-2010 Yep, and if I remember correctly it was part of the economic stimulus... ...still not all bad - I'm not totally adverse to a 5 figure sum of money collected in stamp duty from O/S investors <img src='http://www.melbournechat.org/public/style_emoticons/<#EMO_DIR#>/smile.gif' class='bbc_emoticon' alt='B)' /> New Foreign Home Buyers Rules - daniel.noble - 27-04-2010 Understanding that the new measures are to target residence leaving our shores on TR visas I question how this will work with registered companies onshore or offshore as an investment? That said what stops parents overseas purchasing investment properties here under the guise of an investment property through a business and housing their children in the abode then renting it out after they return home or selling the asset after a two year period to only pay the capital gains on the profit? Can someone enlighten me? New Foreign Home Buyers Rules - glen - 28-04-2010 That is a good point. I don't know if they have a company here whether they need to sell the company when they leave! <img src='http://www.melbournechat.org/public/style_emoticons/<#EMO_DIR#>/smile.gif' class='bbc_emoticon' alt='' /> I presume they don't have to. This could be a big loop hole. New Foreign Home Buyers Rules - glen - 28-04-2010 Quote:Mortgage applications plunge [url="http://www.theage.com.au/business/mortgage-applications-plunge-20100428-trqs.html"]http://www.theage.com.au/business/mortgage...00428-trqs.html[/url] I liked this one!!! Hooray! I hope house prices will also do some plunging! New Foreign Home Buyers Rules - Kaylene1 - 28-11-2011 [left]While most HAFA rules affect only the home sellers and their lender, a few of the streamlined rules impact buyers. They include:[/left]
Matykiewicz anticipates fewer foreclosures in 2010 and more short sales due to the streamlined short sales rules |