"Chinatown"-Official media of Chinese Australians
The Australian government has stepped up its crackdown on foreign property buyers. According to the “Australian” report, the Australian Federal Police has set up a special department to investigate Australian property transactions exceeding a certain amount.

A few days later, Bill Malouf, the agent of Sydney real estate company LJ Hooker Double Bay, said he sold the Sydney Harbour mansion "Mandalay" for A$4000 million to a Chinese buyer with Australian residency rights. , I received a contact from the Australian Federal Police.

"Obviously, a special department within the Federal Police is investigating overseas buyers. They are keeping an eye on Mandalay, watching every transaction of foreign buyers..." Malov said.

But Maloff reacted calmly to police concerns. "I have to get used to this kind of thing. It is not the agent's responsibility." He said that he would follow the usual practice and ask the federal police to find the buyer or seller's lawyer. "This kind of thing won't bother me, it's not our responsibility, we just have to do our own duty."

The Australian Federal Police set up a special department to investigate a certain amount of luxury housing transactions

The experienced Bill Bridges of Sydney property company Ballard Property said that no matter who the buyer is, the Federal Police should not be involved in property sales. "We are selling houses. This is a legal sale and should not have any connection with the Federal Police," he said.

The Federal Police refused to respond, but it is said that they have talked with many agents in Sydney in the past few months, hoping to understand the transactions of foreign buyers.

In addition, the Australian Taxation Office (ATO) continues to crack down on foreign buyers. They are investigating a transaction to purchase real estate through a fund. One of the trustees is alleged to be an Australian resident, but the person behind the transaction is alleged to be a rich Chinese man. The identity of the Sydney property has not been revealed.

News compiled from "The Australian"


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