An online petition aiming to toughen the guidelines for Australian foreign property investment has gathered over 31,400 signatures.
The petition was started on the ever popular Change.org website by Simon Hosking and calls for the government of Australia to bring in more thorough testing of any purchases and buyers that are foreign. He also calls for tougher regulations to be implemented by the Foreign Investment Review Board. The restrictions on foreign property purchases on Singaporeans may put a U Turn on Singaporean’s dream of foreign property ownership and back into the local property scene such as Kingsford Waterbay in Upper Serangoon.

Restriction on Foreign Ownership puts limelight back on Kingsford Waterbay

Using foreign property buying restrictions from other countries as an example, Hoskings has stated that he would not be able to buy property in China with Sri Lanka and its 100% taxation of purchases that are foreign freehold, Singapore …