Investing in Australian property prior to migrating is a great way to step onto the property ladder. You can also start to generate an income as well as build your financial profile.
With over 20 years combined real estate, mortgage broking and financial planning experience we are able to safely guide you through the entire process of purchasing a property in Australia. You will be able to access new opportunities even before local Australian buyers.
You do not need to be an Australia citizen or hold a permanent residency visa in Australia to purchase an Australia property. However there are specific rules and regulations which are enforced by the Foreign Investment Review Board knows as the FIRB.
The Australian Government welcomes foreign investment into real estate. A foreign person looking to buy property here needs to get approval prior to acquiring an interest in certain types of Real Estate. There are also restrictions around the type of property a foreign person can purchase in Australia.
Below are the current rules outlined by the Australian Government on purchasing property in Australia. However there are always exceptions to these rules and you should seek expert advice relevant to your situation.
To speak with one of our property experts please click here or call us on +61 (3) 9827 9930.
New Real Estate Currently a non-resident foreign person needs to apply to buy new real estate. This is known as FIRB approval and is normally approved without conditions. Often larger scale new residential developments have already sort a blanket FIRB approval for foreign persons to purchase in the development.
A non-resident foreign person must apply for FIRB approval to purchase vacant land in Australia with the goal of building a new home. These applications are normally approved with some conditions such as the type of property that is built.
Established (Second-Hand) Real Estate
The current ruling in Australia is that a non-resident foreign person cannot buy an established dwelling as an investment property or as a home to occupy themselves.