The number of foreigners buying Australian real estate surged by a third.
As one astute Redditor points out:
“From the article:
Chinese buyers won approval to make 30,611 real estate purchases last year, totaling $31.9 billion (~77% of them in VIC and NSW).
The ‘crackdown’ on foreign properties last year netted 39 properties (yep, 39 – 0.13% of last year’s total new houses) worth $46.7 million (0.15% of last year’s total invested).
Couldn’t agree more.