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 earlier.
Of the 23,430 applications, two applications were rejected. This is an “improvement” over the previous year, when the FIRB rubber stamped every application.
» Foreign Investment Review Board Annual Report 2013-2014 – Foreign Investment Review Board, 30th April 2015.