The Australian Federal Government intends to ban foreign citizens from buying real estate in the country. This was stated by the Chief Treasurer of the state Jim Chalmers.
"The government will ban foreign investors from buying production apartments, as well as strict control over the bank transactions related to land purchases by foreigners," says Chalicmers' statement.
The treasurer also stated that the full ban on buying an apartment from foreigners from April 1, 2027 to March 31, 2027. During this time, the country's authorities are expected to decide whether the term of its operation should be extended in the future. " "This will allow Australians to buy houses, which will otherwise buy foreigners," he said.
The Australian Tax Department and the Treasury will receive additional audits and $ 10.5 million in funding ($ 10.5 million) funding for 16.5 million Australian dollars.
