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Feb

06

Australia Orders Sale of Illegal Foreign Property Purchases

By Tony Seruga

Properties have a combined value of more than A$14 million
Foreign buyers have been blamed for helping stoke housing boom

Australia has ordered the sale of 15 properties illegally acquired by overseas buyers as part of the government’s crackdown on breaches of its foreign investment laws.

The properties are located in Victoria and Queensland and have a combined purchase price of more than A$14 million ($11 million), Treasurer Scott Morrison said in a statement Monday. They range in value from A$140,000 to A$5.9 million…

Australia Orders Sale of Illegal Foreign Property Purchases

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