No Picture
Foreign Investment Review Board

Passive foreign investment watchdog relieved of enforcement duties

Foreign investors who purchase existing residential dwellings illegally, and third parties who knowingly assist, will face increased penalties under a new bill to be introduced into Parliament this Spring. Coinciding a day after the Foreign Investment Review Board’s (FIRB) annual report showed a 95 per cent increase in applications by

No Picture
Australian Housing

Foreign investment propels Sydney, Melbourne property bubbles

Applications by foreigners to purchase Australian real estate has surged in 2013/14. Data contained in the Foreign Investment Review Board’s annual report, released yesterday, show there were 23,430 applications to buy Australian real estate last financial year. This is up 95 per cent from the 12,025 applications received the year