Foreign nationals have been forced to offload more than $100 million worth of illegally acquired Australian real estate.
Some 15 properties in Victoria and Queensland, worth a combined $14 million, have been forcibly sold off in the latest round of divestments triggered by an Austalian Tax Office investigation.
The blitz brings the total number of forced sales of properties in breach of foreign investment rules to 61, with a combined value of $107 million, Treasurer Scott Morrison said on Monday.
Mr Morrison said enforcing foreign investment rules was part of the government's initiative of ensuring housing is more affordable.
He had a blunt message for those who bid against Australians to buy properties when they weren't legally able to.
"We will find you and I will force you to sell it," the treasurer told Sydney's 2GB radio on Monday.
Share
