Australia Luxury Homes and villas
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Fewer lower prices houses are being sold in Australia with the residential property market seeing more the number of $1 million plus home sales soaring.
Foreign investment in Australian real estate has jumped by three-quarters in 2014/15, to a record $60.75billion.
Australia’s apartment sector could see a dropping off in demand in 2016, says leading global agent, Knight Frank.
Hollywood star Hugh Jackman and wife Deborra-Lee Furness sold their luxury apartment in Melbourne CBD, Australia quietly. Public documents showed that Jackman couples owned this for nearly 20 years.
New foreign-investment rules could lead to civil penalties and fees being imposed on property investors who are not Australian citizens.
Over a third of affluent Asians own an investment property overseas according to HSBC, with Australia ranked as one of the top destinations.