Tightened restrictions on foreign property investors has cooled international buyer activity in Australia, reports Business Insider (28 June 2018). Latest data from Australia’s Foreign Investment Review Board (FIRB) shows merely 13,198 residential real estate applications were approved in the 2016/17 financial year, compared to 40,149 approvals the year before. Already, Australia's raised fees and stricter restrictions, combined with China's capital controls, has seen a slowdown in China homebuyers in the land down under. According to a recent report from leading Chinese international property platform Juwai.com, asides from increased fees and charges for offshore investors imposed by various state governments in Australia, Chinese buyers also face national restrictions on the purchase of established dwellings without approval, as well a 50% limit on new development sales to foreign investors. The Juwai report further forecasts that Australia – with the exception of Tasmania – is unlikely to see any new foreign buyer restrictions being imposed in the coming year.