Big changes for Queensland property buyers

The Queensland government announced that foreigners buying property in Queensland will pay a 3.0 per cent surcharge.

REIQ chief executive Antonia Mercorella said foreign buyers are around 15 to 20 per cent of the Brisbane new apartment market.

The Queensland government also announced a $5,000 increase to the first home buyer’s grant from $15,000 to $20,000 for new purchases only, not for buying existing dwellings.

Source: Mortgage Business