Australia to triple fees on foreigners buying existing homes, penalise them if they leave properties empty

filoria@lemmy.ml to World News@lemmy.world – 843 points –
Australia triples fees on foreign buyers of existing homes to stem rental crisis
scmp.com
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I think a lot of people hear holiday home and think like, tropical bungalow. A holiday home here in Sweden usually won't have a sewage connection, and oftentimes not even running water. You'd have to use a potty and bring potable water yourself. You could get these pretty cheap so long as you're in a position where you have some money left over after expenses.

A proper house will easily be 10x the amount a holiday home is.

There are fancier ones of course, that can basically double as a home. Anyone I know that has such a thing owns it as a family (as in grandparents, siblings, etc.).

I think people are picturing that, because that's what's been happening elsewhere; foreign investors using luxury real estate as an investment.

Well yes, not saying those aren’t a thing, but they’re not the only type of holiday homes. It’s not unfeasible for a normal person living above subsistence to be able to afford a holiday home.

Saying “oh you have a holiday home you’ve enough of an advantage” doesn’t really work in all cases.

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