Following industry representation the Government has announced changes under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement on it.
Previously, the on-sale of an off-the-plan apartment was regarded as a second-hand sale, which was not open to foreign buyers who are only able to buy new dwellings.
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Real Estate Institute launches Federal Election campaign
REIA News – March – April 2019
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REIA responds to oppositions start date for negative gearing and capital gains tax changes