From the AFR:
The crackdown on foreigners illegally buying residential real estate has more than doubled to over 500 investigations and $1 billion worth of property.
Treasurer Joe Hockey said the investigations, prompted by community dob-ins, have already resulted in the forced sale of properties held by people from Singapore, Indonesia, the United Kingdom and China.
“The lowest value purchase price was $265,000, the highest $8.1 million. They have 12 months to sell the properties under the amnesty that we have provided until the ends of November,” Mr Hockey said.
Go Joe!
