Australia will impose a two-year ban on foreign investors purchasing existing homes, starting from April 1, 2025, to alleviate housing supply pressures. Treasurer Jim Chalmers and Housing Minister Clare O’Neil announced the ban, which is expected to free up around 1,800 properties annually for local buyers. The government aims to address rising living costs related to housing and has recently introduced reforms such as a shared equity scheme and tax incentives for developers, with a goal of building 1.2 million new homes by 2030.
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