Generally, i don't agree with any non Australian buying real estate In australia.
In the 25 million dollar bracket, hope most certainly out of reach for first home buyer and our younger generation trying to get into the property market.
if that is the case then what is wrong with foreign buyer buying in this bracket as they are bringing fresh money from outside australia and hopefully this is then get recycle within our economy. not to mention the huge stamp duty they have to pay.
It is in this space that if there is another gfc/recession,the price will fall hard as the number of people who can afford it will be limited. Just look at the last gfc, a number of property above 10m range took a massive lost in syd. I am some other will pull example from other states.
