We have the exact same policy in the United States. Anyone can pick up a phone and buy realestate.
No one calls it corruption here. It's just capitalism? This has bothered me for years. I first learned about it in a realestate law class. My hand went straight up. Nothing has changed.
(They passed a feel good measure about a year ago that supposedly vets the money. I can't think of a country I can own realestate with a money transfer.)