The Age has run a series of articles (here, here, and here) examining the flood of foreign money, much of it from corrupt sources, that is inflating the local real estate market and pricing young Australians out of home ownership.
Following an 8-month investigation, Fairfax claims to have uncovered a corruption scandal involving Dudley International House, an unassuming apartment block located in the Melbourne suburb of Caufield East, which in 2013 was sold an astonishing $22.5 million – way above the expected price of $18 million.
