foreign investment: Of those, 24 are foreign investors who came forward voluntarily to flag they may have breached the laws, according to The Guardian. One of the foreign investors, from the UK, is negotiating with the government to divest a property purchased for about $700,000 in Western Australia. The Foreign Investment Review Board has 195 investors under investigation for potential breaches of the foreign investment rules regarding residential real estate. If the investor sells, it will be the second divestment since March when Joe Hockey foreshadowed the crackdown by forcing the sale of the $39m mansion known as Villa Del Mare in Point Piper, one of Sydney most expensive suburbs. He subsequently sold the house to businesswoman Lola Wang Li, in May, with a reported price tag of $41m. Villa Del Mare was owned by one of China richest men, the billionaire Xu Jiayin.
(news.financializer.com). As
reported in the news.
Tagged under foreign investment, Villa Del Mare topics.