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Foreign investors head to Australia

By Staff Reporter
07 January 2010 | 1 minute read

Foreign investment reforms, and tax incentives have helped make Australia a haven for foreign investors.

According to a report in The Australian Financial Review, there has been an influx of foreign investment funds acquiring commercial property in Australia.

“Over the last 12 months we have seen an increasing number of major investors from Europe, North America and throughout Asia turn their eyes to Sydney, and other Australian commercial property markets,” Jones Lang LaSalle’s agent Simon Storry said.

Jones Lang LaSalle recently sold the Sydney landmark office tower Aurora Place to a foreign investor in conjunction CB Richard Ellis for $685 million.

Last month, the Rudd government took steps to make foreign investment in Australia even easier.

Under the government’s proposed reforms to the current foreign investment procedures, the federal government aims to make notification procedures more streamlined, ease the rental restrictions on new dwellings and remove all development restrictions on new dwelling sales to foreign investors.

Foreign investors head to Australia
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.