News Snapshot:
An increase in investment fees by Australia for foreigners might be ill-timed, given the heightened risks of inflation and a global recession, as well as declining home prices in the country, analysts said. Canberra doubled the Foreign Investment Review Board (FIRB) application fees on Friday last week, with the maximum set at A$1.045 million (US$730,000) for deals worth more than A$2 billion. “There is never a good time to make a decision that adds cost to investor underwriting, particularly for real estate where foreign investment makes up a large proportion of the transaction volume each year,” said Mark Coster, CBRE’s...
