Juwai IQI co-founder Daniel Ho said the reform was very welcome and the latest results show the country remains very attractive to foreign buyers.
“Overseas demand for residential real estate is down because of Covid and related restrictions,” Ho said.
“It is also down because it is now harder to finance a purchase in Australia, foreign buyer stamp duties are still high, and foreign investment application fees are now higher than before.
“The high costs are balanced out by its strong educational offering, lifestyle benefits, proximity to Asia, and dependable markets and economy.
“The fact that total approved for an investment increased 19 per cent despite the pandemic demonstrates how good Australia’s brand is.”
Read more: The Urban Developer
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