chinese buying houses in australia, page-40

In relation to foreigners buying up Aussie property, I query whether they are complying with FIRB legislation which requires pre approval from FIRB for existing property. The govt relaxed laws but I thought that was in relation to new developments.

If no approval has been obtained govt should require the purchaser to put the property back on the market. Imagine the flood of properties that would result!!!

I think a current affaits will be showing a story about foreigners buying up property and landbanking this Monday night. I hope they go one step further and investigate whether those purchasers were pre-approved by FIRB??