Chinese investors will snap up ‘bargain’ homes under Bill Shorten

Bill Shorten’s “plan to slash negative gearing will result in thousands of Chinese investors  snapping up ‘bargain’ Australian homes”, according to a property expert.

“Labor’s reduction in the tax breaks means that there will be fewer local buyers in the real estate market, and the drop-off in demand could reduce house prices [but] any such price fall would make the local market more attractive to foreign investors”.

“400,000 Australian homes were already owned by overseas investors, and that could more than double to more than a million in coming years”.

Source: Daily Mail Online

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