Australia is to tighten regulations governing foreign ownership of agriculture and real estate.
As an initial step, Foreign Investment Review Board approval will be required from next month for all purchases of agricultural land with a value of more than A$15m. That is down from A$240m previously.
Foreign ownership of residential property will also be tightened, with new rules due to be detailed in “coming weeks.”
The moves come against a backdrop of public concern that foreign investment, particularly from China, is pushing up prices of houses.
