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I think it just makes it more attractive for developers to build more residential buildings in the city. I'm happy with that


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And lastly rev, I think you should google what a physio doesor is AG recovery from an injury or something?


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rev wrote:
So we should encourage foreigners to buy apartments and what not, rent them out, and create an easy system of taking wealth out of the country?
Are you for real?
How does that benefit the average person?
Is my standard of living going to increase because an investor from Malaysia or Hong Kong has purchased an apartment in Kodo or Vue, rents it out to someone local here, and takes the money out of Australia?

Foreign investment should have it's limits.
If that makes you hang your head in shame, then book your self into see a physio mate.

Foreign investment does have it's limits - buyers are restricted to new properties only.

It's a myth that foreign investors drive up property prices in Australia - only about 20% of the value of foreign investment in Australian property in the past year was from China, with the US not far behind. There's more investment from Canada than from Malaysia. Most locals in Australia are buying established properties, whereas much of the foreign investment is in off the plan or build purchases - they are not even generally competing for the same types of properties.

This type of foreign investment helps create jobs in the construction sector providing economic stimulus offsetting the mining downturn to some degree. Building lots of apartments doesn't drive up prices as this contributes to supply, not demand. If anything, the off the plan apartments are some of the worst performing investments out there due to the risk of oversupply.

thecityguy wrote:And lastly rev, I think you should google what a physio doesor is AG recovery from an injury or something?

well after handing ones head in shame for an extended time, one might require the services of a physio

I'm all for foreign investors being able to buy off the plan and new apartments, it's a driving factor as to why we have so many developments under construction or proposed in Adelaide. I welcome the construction jobs and vibrancy that apartment living is bringing to the city, not to mention helping to modernise our skyline.

I am however, not so keen on foreign investment in large scale rural properties and farms, which is pretty much the attitude of the Govt as well.

Because it's not just about apartments in the CBD AG, and others.