Pursuits
Sydney Mansion Sold Amid Crackdown on Illegal Home-Buying
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A Chinese-controlled company that illegally bought a A$39 million ($31 million) mansion overlooking Sydney harbor has sold the property amid a government crackdown on unlawful home-buying by foreigners.
Treasurer Joe Hockey’s office said Villa del Mare, which was purchased in 2014 via a string of shelf companies in Australia, Hong Kong and the British Virgin Islands, was sold to an Australian citizen.