MacroBusiness
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at 10:00 am on June 28, 2021 | 10 comments
The Foreign Investment Review Board (FIRB) has released its 2019-20 Annual Report, which shows a decline in the number foreign residential real estate investment transactions but a rise in values across established and new dwellings:
Less foreign real estate transactions in 2019-20, but higher values.
The number of foreign investment approvals for existing dwellings has fallen from a peak of 5,876 in 2015-16 to 1,101 in 2019-20. By contrast, the value of existing dwellings approved fell from a peak of $7.3 billion in 2015-16 to a trough of $1.7 billion in 2018-19, before rebounding to $4.5 billion in 2019-20.
Even foreign buyers are beginning to feel squeezed by Sydney s property market, as Queensland becomes a top destination
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Foreign investment slipped during the pandemic
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