There are many countries and territories with higher land value than Australia.
Nevertheless, that is Not the fault of property investors - most would like to buy it cheap. Why would any Property Investor want to pay Higher Prices??? It goes against every rule of investment.
However, this is an area where the Gov can control and it does, for revenue purposes.
1. The Gov offers high wealth individuals (foreigners) easier access to citizenship. All they have to do, is bring in $5M. That means they have $5M to spend - and more often, they go out to buy properties.
2. Gov Not releasing more land to be developed.
What you guys don't get is, the Gov also make money in this policy:
The State gets Stamp Duty upon sale and then gets Land Tax annually on the rental and
The Fed Gov gets purchase tax by foreigners between $50k to $75k.
