“Several foreign owners of residential property across Australia have been ordered to sell as the government intensifies its crackdown on the abuse of homeownership laws by buyers from China and elsewhere. Treasurer Joe Hockey said foreign investors have been ordered to sell six properties in the cities of Sydney, Brisbane and Perth. The treasurer said he expects more divestment orders will be announced soon, and promised to increase penalties for those who break the rules. The conservative government is under pressure to make housing more affordable, and rein in surging investor buying that some fear may push the market to unsustainable levels, causing a crash.”
http://www.wsj.com/articles/australia-orders-more-foreign-homeowners-to-sell-1439024595
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