A near 12-month wait for a Thai property developer to receive regulatory approvals to buy housing estates across Australia could deter other foreign developers and amplify the nation’s housing shortage, warns Melbourne property investor Joseph Gersh.
Stockland’s joint venture partner, Bangkok-based Supalai, waited since last December to receive approvals from the Australian Competition and Consumer Commission and the Foreign Investment Review Board to control 12 Lendlease estates across NSW, Victoria, Queensland and Western Australia.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
