Congress Relaxes Law On Foreign Real Estate Investment

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The commercial real estate industry has been looking to Congress to overturn a 1980s law which curbs foreign real estate investors.

On Friday, Congress finally listened and the move is expect to bring billions of dollars in foreign investment to the market.

The original law, called the Foreign Investment in Real Property Tax Act, forces foreign investors to pay income tax when they sell U.S. property.

Image via Flickr/Marco Kudjerski

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