Australians bemoan their own property taxation burdens but foreign buyers are hit with an array of imposing fees, taxes and surcharges that have somehow not scared them away from Australian real estate.
Interest in Australian property from international buyers continues to soar despite some eye-watering financial obstacles thrown up by the government.
PropTrack’s latest Overseas Search Report – October 2023 revealed that since its July report searches from abroad have continued to increase, with purchase searches up 11.5 per cent in the last three months and rent searches up 7.8 per cent.
Chinese buyers are particularly keen. According to the …