ÊBuyers should not be penalised if FIRB rules are loose

The Australian Financial Review (AFR)

Chinese foreign investors welcome Australia’s tight rein on foreign investments but say penalising buyers on the back of poorly administered foreign investment rules is unfair. “Many Chinese investors are actually reluctant to buy properties in countries where they are no restrictions at all on foreign investors, as it shows too much desperation, making them suspicious about the market,” Chinese property advertiser, ACProperty.com.au director Esther Yong said.