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An industrial operator warned that a prohibition of foreign investors will delay the availability of short -term rental accommodation in Australia for tourists.
A two -year prohibition monitored by the fiscal office is scheduled to reach Airbnb and the short -term rental market with force, warns an industry operator.
The prohibition that was on April 1 of this year and extends until March 31, 2027, is partly supervised by the Australian Tax Office, and all foreign properties buyers now cannot buy goods established in Australia “with limited exceptions.”
The ATO said that “this includes temporary residents who buy a house established for use as a main place of residence” that covers international students and contracted workers, but operators fear that the consequences will reach the hardest holiday market.
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The short -term stays to use Airbnb and similar sites to list the fate of South Lismore. Credit: Istock
But the Short -term Rental Properties Administration Firm Bodhitree Group, the managing director Seiko Ma warned that the prohibition of foreign investors will specialize the availability of short -term rental accommodation in Australia for tourists more to tourists.
She said that foreign properties buyers often bought houses for rental purposes, including Airbnb, which could see that those numbers fall in the next two years.
“If there are less available properties for rent in the short term, it would be a significant loss for both the industry and for tourists who benefit from unique thesis accommodation options,” he said.
“In my experience, local owners tend to have different priorities compared to foreign investors. It is generally less likely to sacrifice their properties for short -term rent.”
“On the other hand, they can choose to live on the property themselves or rent it in the long term. These factors could affect the flexibility, prices and availability of STR properties for tourists.”
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Managing Director of the Bodhitree Seiko Ma.
“Tourists, whether traveling for work or leisure, will have fewer Airbnb options to choose from certain cities or regions.”
“As a result, many may have no choice but to resort to traditional accommodation options such as hotels or vacation apartments.”
Mrs. Ma said that the increase in Airbnb and other short -term rentals had a “deeply positive impact on the tourism industry.”
“Not only do they offer affordable and flexible options for business and leisure travelers, many cleaners, gardeners and merchants have the opportunity to work near home.”
“Tourists who stay in Airbnb accommodations tend to spend money in different ways that hotel guests often cook their own meals, buy in local supermarkets and visit cafes and other neighborhood businesses.”
Airbnb and short -term rental users tend to use local businesses, purchases, dinners, visit Cafes, said Mrs. Ma.
“In addition, they are more likely to explore areas beyond traditional tourist points, which leads to a broader distribution of tourist spending in the local community.”
According to ATO, the duration of the two -year prohibition period was possible for foreign investors to buy established properties only if they would demolish the demolir to build at least 20 additional developments on Earth within 4 years from the date of approval.
“We generally address the applications to buy it and develop it if it is significantly incentive in the housing of incentralia. This applies to development proposals to: retain established shit; demolish a house stianly or her.
But he said that different rules applied to the requests made as of April 1, 2025, where the established property that was bought had to be empty in the agreement and no part of it had to deal with until the new wave.
When buying or selling residential land, foreign investors must also notify the foreign property registry of Australian assets, and may also need to pay additional taxes such as a surcharge tax for foreign investors and taxes on land and type of property.
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