Australia to Ban Foreigners From Buying Some Homes as Costs Soar
- Overseas investors won’t be allowed to buy established homes
- Australia has some of the world’s most unaffordable housing
Australia’s government will ban foreign investors from buying established houses for the next two years as part of an election pitch to tackle surging home prices.
From April 1, foreign investors will be banned from buying established property until March 31, 2027, Housing Minister Clare O’Neil said in a statement Sunday. The restriction will then be reviewed to determine whether it should be extended.