Maggie5
Moderator
- Moderator
- #1,076
It is interesting that China get the bad publicity but I too know of Malaysian citizens that were residents but have since gone home that still have a sizable property portfolio in Australia.With respect meds there's the rules and what's actually happening.
I have a Malaysian client with 26 Australian properties of which 21 were bought as second hand houses in the residential market. He hadn't even heard of the FIRB before we informed him.
The reality is huge chunks of certain areas of all the bigger cities are owned by wealthy outsiders and no one at government level seems to really care that much.
Just on the IGR, a lot of emphasis has been on the aging population but in 40 years time, what about the current situation of 20% youth unemployment. Little has been said about this. Even if half of those are in employment in 10 years time, the remaining 50% will have a big impact on future budgets. Not sure how these percentages translate into numbers but if it assumed that 40,000 will be over 100, how many of the 20% unemployed will be in employment?