Australian Luxury Home Sales Revive as Wealthy Enjoy Share Gains

Australian Luxury Home Sales Revive as Wealthy Enjoy Share Gains

Brendon Thorne/Bloomberg

Houses stand along the waterfront in the suburb of Point Piper in Sydney. The Australian government’s introduction last November of a visa that provides permanent residency to foreigners investing at least A$5 million over four years will draw in more Chinese investors, said Bill Malouf, principal at LJ Hooker Corp.'s franchise in Double Bay.