…The NAB Survey findings reveal foreign buyers are buying up new homes across Australia
-19.3% of Victorian new homes sold to foreign buyers
-with demand from China, India, and other parts of Asia
Juwai IQI Executive Chairman, Georg Chmiel submits overseas buyers are as little as some 5 per cent to 7 per cent of existing sales and 10 per cent to 13 per cent of new sales.
But what about the real percentages that we suggest are concealed through the onshore Proxy who is already a citizen …
Chmiel submits that foreign buyers are a lifeline for developers … despite their Sting with the 2008/09 FIRB Ruling allowing them to sell 100% of ‘new homes’ to foreign buyers, and creating a World-wide market for them!
Chmiel has overlooked what has happened in Australia due to high immigration, and visa manipulation with the enticement of gaining a Permanent Resident Visa following real estate purchase. The aspiring incumbents were locked out of the housing market long before Covid-19!