changes to australian law could benefit property investors
News Posted On: 19 December 2008
Overseas property buyers looking to purchase a home in Australia might benefit from recent changes to the property rules in the country.
The federal government has relaxed rules which restrict the ability of temporary residents or businessmen to acquire homes in Australia, reports the Australian.
It is thought that this move could benefit more than 7,500 overseas purchasers looking for a property in Australia.
This will be done by increasing the market flexibility and reducing the compliance costs for temporary residents and the construction industry, according to assistant treasurer Chris Bowen.
Under the current legislation, all non-residents need to notify the government if they are planning to acquire a home down under.
Australia recently scored well in a poll of expatriates from the UK, which was conducted by HSBC.
More than 90 per cent of those who relocated to the country said they had made friends with local people in the country.
Property Abroad - buying property abroad made easy. 
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