Photographer: Davis McCardle/Getty Images

Foreign Home Buyers Face Stamp Duty Rise in Australian State

  • Victoria state to double stamp duty on overseas buyers
  • Land tax for absentee home owners will treble to 1.5 percent
Why Australia's Property Market Is Booming

The Australian state of Victoria will more than double a property tax for foreign buyers in a move that may undermine surging home prices in the nation’s second-largest city.

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