Following the shock announcement on Tuesday that the Foreign Investment Review Board (FIRB) has ordered the sale of the $39 million Point Piper home Villa de Mare, purchased illegally by Chinese national Xi Jiayin, Treasurer Joe Hockey has announced more illegally purchased homes are being pursued by FIRB. From The AFR:
“It’s amazing how many phone calls we’ve received this morning…We want to be in a position where we maintain, preserve and enhance the integrity of the foreign investment regime and Australians … any Australian that goes to an auction needs to know that they bare competing on a level playing field with people that are lawfully able to acquire the property”…
