Abstract Significant changes to Australian foreign investment policy were enacted in December 2015 affecting how foreigners can purchase property. Therefore, it is timely to examine the role of legislative policy in supporting and shaping foreign investment in residential real estate. This paper contributes to the body of knowledge about the scale, extent and nature of foreign investment in residential real estate in several ways. First, legislative analysis reveals an emphasis on boosting new dwelling supply and on economic stimulus. Second, comparing Australian and international policies we show that some countries channel foreign ownership away from land and towards buildings only. Third, examining the scale of foreign investment in residential real estate since 2009 we show that while the number of foreign approvals has been rising, their value remained static. Fourth, our research reveals a changing investor profile over time in Australia. Additionally, on the Gold Coast, as in other capital cities in Australia, there has been a sectoral change with an increase in foreign property developers supplying dwelling product. The paper concludes with some key research recommendations to aid in understanding supply and demand from foreign residential property investors and the influence this has on property markets.

中文翻译：

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立法政策环境促进澳大利亚外国住宅投资

摘要2015年12月，澳大利亚对外国投资政策进行了重大修改，影响了外国人购买房产的方式。因此，应及时研究立法政策在支持和塑造外国对住宅房地产投资中的作用。本文通过多种方式为有关外国对住宅房地产投资的规模，程度和性质的知识做出了贡献。首先，立法分析表明，重点在于增加新的住房供应和经济刺激。其次，比较澳大利亚政策和国际政策，我们发现一些国家将外国所有权从土地转移到仅建筑物。第三，研究自2009年以来外国对住宅房地产的投资规模，我们发现，尽管外国批准的数量一直在增加，它们的价值保持不变。第四，我们的研究揭示了澳大利亚随着时间推移而变化的投资者状况。此外，在黄金海岸，与澳大利亚其他省会城市一样，行业发生了变化，提供住房产品的外国房地产开发商有所增加。本文以一些关键的研究建议作为结尾，以帮助理解外国住宅房地产投资者的供求及其对房地产市场的影响。