Property developers and real estate agents are targeting foreigners by spruiking the benefits of the real estate sector as a means for wealthy investors to enter Australia on a Significant Investor Visa.
The Significant Investor Visa was introduced in November 2012 to attract high net worth investors to gain Australian residency, without meeting the normal English and other criteria required by other visas.
The core requirement is that the visa applicant invest a minimum of $5 million in government approved avenues, one of which can be real estate.
According to the News Limited, Otan Property Funds Management is marketing the property sector of the state capital to potential investors especially those in China.
It’s expected that the Chinese will be eager to take advantage of this visa scheme because of the relaxed standards the visa has over a skilled visa.