Australian Builders Reject Moves to Sting Foreign Investors in Housing

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Updated Dec. 10, 2023 9:09 pm ET

SYDNEY—Australian home builders have rejected federal government plans to sharply increase penalties on foreign investors in the housing market, saying the measures will further erode new home supply, not add to it.

Treasurer Jim Chalmers announced Sunday that foreign investors who buy established homes will face a tripling in government fees, which will increase further if the home is left vacant.

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