The Australian Government has recently introduced new laws which may give foreign investors an added incentive to invest in the Australian Housing market.
The new law being introduced by the Australian Government is called the ‘Significant Investor Visa’, and allows migrant visas to be put on a fast track if the investor intending on migrating to Australia has purchased over $5 million in local investments – including property.
This law may impact Chinese investors in particular, as the Chinese Government recently has also proposed new laws which attempt to limit a Chinese real estate bubble and may make investing in Chinese real estate more difficult.
Experts from Sydney real estate firms have advised there has already been an increase in the amount of interest from Chinese investors since the Australian Government made this announcement.
BMT Tax Depreciation has long recognised the increase in Chinese investment in the Australian property market by providing brochures printed in Chinese and over the phone advice from a Mandarin speaking expert.
For more information about the Australian governments new laws, visit the following link.