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Advice please. We live in a 50 unit complex in Sydney, completed in 2013, that was built in 2 stages. Stage 2 was the subject of a successful sales road show in China and we now have about 40% of the properties foreign owned.
Lately we have noticed some of these properties have changed hands, always through an Australian based Chinese investment advisory company.
Given the Federal government is cracking down on unlawful foreign real estate investment and that the properties are now classified as ‘established’ we are concerned that if the recent exchanges are not legitimate a worst case scenario is we may have a group of forced sales that would affect all other property values in the complex. How does one find out if a property has been purchased by or for a foreign national? Our Strata Manager has not been of much help.
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ArtC – don’t concern yourself about how to ascertain whether or not Lot/s in your Plan have been purchased illegally, but instead complete and lodge THIS form on-line and let the Foreign Investment Review Board follow-up.