Intermediaries blamed for foreign buyer breaches

Monday 24 August 2015

Real Estate Institute of NSW (REINSW) president, Malcolm Gunning, has fingered the blame for breaches of Australia’s foreign rules on real estate to crooked intermediaries “taking advantage of” foreign buyers. From Real Estate Business:

Gunning said local intermediaries are often involved in violations because foreign investors usually intend to do the right thing when they visit Australia.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.