Australia welcomes foreign property buyers, but like most countries there are some rules that need to be followed.
There are many reasons a foreign buyer may want to buy a residential property in Australia...
for steady rental income and a sound investment; for accommodation during children's education; for a future home; to take advantage of favourable exchange rates; to diversify risk into a safe haven and for holiday use, amongst others.
THE RULES*
The following guidelines indicate the type of property foreign buyers may purchase without any limit or restriction:
- Brand New Under Construction Property.
- "OFF-THE-PLAN" Apartments, Flats, Townhouses, Condos, Units.
- New Property not Previously Occupied in the past 12 months.
- Residential Land, Providing a Home is Built Within 4 Years.
- Newly Built Homes.
- Any Commercial Property.
In Australia, foreign investors generally cannot purchase old properties.
FEES: Normally an FIRB application costs AUD$5,500
Buying property also does NOT assist with migration.
*Rules, laws, fees, and regulations can change without notice.
