Mixed messages in FIRB regulation will backfire on Australia: Christie's International agent Ken Jacobs

Mixed messages in FIRB regulation will backfire on Australia: Christie's International agent Ken Jacobs
Jonathan ChancellorMay 3, 2015

Christie's International agent Ken Jacobs says there are mixed message coming from the Australian government on foreign investment in prestige residential 

Jacobs was part of the high level delegation from the Christie's that was visiting China last week to help build stronger relationships across the company’s global network.

There has to be clarity and certainty in the wake of the Villa del Mare, Point Piper decision, he suggests.

It was the first time Jacobs has spoken publicly on this issue - he was one of the sellers of the $39 million Point Piper home. 
 
Jacobs said Treasurer Joe Hockey’s forced sale was an unpreced­ented and an ill-considered political stunt.

“The market here is seeing lots of mixed messages from our government, which is the worst thing that any country can do or any investment category can do,’’ he said.

“People want certainty, they want to be able to look at the crit­eria and meet that criteria, but if the criteria’s sort of a moving feast then there are lots of other markets they can go to.”

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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