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flag Australia bans foreign investors from buying existing homes for two years to help locals afford housing.

flag Federal Labor in Australia has announced a two-year ban on foreign investors buying established homes, starting April 1, 2023, and ending March 31, 2027, with an exemption for developments of 20 or more properties. flag Foreign buyers spent $4.9 billion on 5,360 homes in 2022-23. flag Housing Minister Clare O'Neil emphasized the goal of helping young Australians own homes.

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