Under pressure to cool a soaring housing market, the Australian government's proposed clampdown on foreign property buyers has raised a few eyebrows around the world.

"Appetite for risk" is the phrase of the day, cropping up today in both Knight Frank and CBRE research reports.

The heart over-rules the head for many buyers of 'Billionaire Property' says Stephen Rees, Head of Real Estate Advisory at Coutts, in the second part of the bank's Objects of Desire report into passion…