<p $$hash="6536-0">The Chinese government announced that it will be enforcing a 20 per cent capital gains tax on house sales.
<p $$hash="6534-0">As a result, it is expected that Chinese nationals will want to look elsewhere for investing in property.
<p $$hash="6532-0">Sydney and Melbourne have proven to be popular areas for property investors from China. Developers have been looking to both cities for projects.
<p $$hash="6528-0">People from abroad are also being drawn in by the new ‘significant investor’ visa that has been made available.
<p $$hash="6530-0">For people looking to invest in property, the Australian housing market is showing signs of good health.
<p $$hash="6545-0">House prices have been rising for months across the country’s major cities.
<p $$hash="6547-0">Meanwhile, interest rates on mortgages are historically low, as the Reserve Bank of Australia has been keeping its benchmark interest rate at three per cent. This is after gradually lowering them by 1.7 per cent since May 2011.
Posted by Craig Francis