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Mansion bought illegally in Sydney sold: Treasurer

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Published Fri, May 1, 2015 · 09:50 PM

Canberra

A US$30 million mansion overlooking Sydney's harbour that was illegally bought by a Chinese-controlled company has been sold to an Australian citizen, Australian Treasurer Joe Hockey said on Friday.

The sale of Villa del Mare, a six-bedroom Mediterranean-style home in the city's affluent Point Piper suburb, was ordered by Mr Hockey earlier this year as part of a crackdown on illegal buying by foreigners blamed for helping fuel a surge in house prices. Mr Hockey said around 100 other similar cases were being looked into.

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