Singapore buyers could indirectly benefit from Australia’s property ban on foreigners: analysts
The move could reduce competition in the new property market, benefiting those interested in off-plan purchases
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AUSTRALIA’S government will ban foreign investors from buying established houses for the next two years, but Singaporean investors are not likely to be affected or deterred by this development, said analysts.
In fact, some could indirectly benefit from this cooling measure by way of a secondary impact on the new home sales market, they added.
From Apr 1, foreign investors will be banned from buying established property until Mar 31, 2027, said Australia’s Housing Minister Clare O’Neil in an election pitch to tackle surging home prices. The restriction will then be reviewed to determine whether it should be extended. Established property refers to resale homes.
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