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