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Buying property in Australia
Most overseas people are unaware that they can purchase residential
and commercial properties in Australia. The Australian Government
encourages foreign investment and will usually grant approval
to buy:
- vacant residential land as long as home construction commences
within 12 months
- existing residences for redevelopment
- units, townhouses and house/land packages, in a new development
- vacant land for commercial development and developed
commercial properties
If you are not a permanent resident of Australia, you must get
prior approval from the Australian Government’s Foreign
Investment Review Board. We can help you to prepare an application
and approval can usually be obtained in 30 days.
We can also put you in contact with reputable real estate agents
in Australia, help you obtain finance for the purchase and arrange
property settlements via our business associates.
Please visit our Links page for other
useful websites if you are considering property investment in
Australia.
Can I buy a pre-owned home?
Because Australia’s foreign investment policy is designed
to increase the supply of new housing, foreigners cannot normally
get approval to buy houses, flats or units which have been occupied.
The exceptions to this rule are:
- foreign nationals temporarily resident in Australia for more
than 12 months, who are buying a home here
- foreign companies buying a home for their senior executives
who will be living in Australia for more than 12 months.
Can I get in-principle approval?
When you apply for foreign investment approval, you must give
the address of the property you want to buy. The Australian Government
cannot give in-principle approval.
Can I get approval after I buy my home?
You should not sign contracts before you receive foreign investment
approval, unless the contract is conditional on such approval.
The Australian Government cannot give approval after you have
signed the contract.
Other Investments in Australia
Please contact us regarding approvals
for other investments in Australia. For further information you
can also visit the Foreign Investment Review Board website here.
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