XJO - Bear Posts only (Factors which might cause the markets to fall), page-15925

Thanks for sharing the news article.
The scheme the headline is refering to was one that was devised by the state govt in WA to help the struggling property market in WA during COVID.
It was a discount on the states stamp duty.
IMHO the headline is very deceptive.
As no foreigner was paid 50K upfront when buying a property like what happens with the first home owner's grant!
To be able to secure a discount of 50K on WA stamp duty, you had to sign a pre construction contract for a 1.5M property off the plan 2 years before completion.
If you are a foreigner you also have to pay a foreign property surcharge which is another type of stamp duty.

Was this "WA govt Marketing campaign" successful ? Fortunately No! is the answer.

Everytime a "foreigner" buys a property in Australia they have to get permission from the FRIB.
All of the transactions are recorded on the website.
The number of transactions were <5 for the 2020 - 2021.