Buying Real Estate in Australia as a Foreign Investor

Those wanting to buy real estate in Australia but who do not have Australian citizenship or permanent residency must get prior approval from the Australian Government. Prior approval must be obtained in writing prior to the real estate purchase.

You should not sign a contract without first receiving foreign investment approval, unless you ensure that the contract is conditional on such approval.

Further information and application forms are available from the Foreign Investment Review Board website: www.firb.gov.au or contact:

Enquires: +61 2  6263 3795 Fax: +61 2  6263 2940 E-mail: firb@treasury.gov.au

Agreement in Principle: Whilst you are waiting on the FIRB's decision you may apply to the lender for an 'agreement in principle'. Once granted, you may enter into the contract with the lender to purchase the property.

Delays: Be prepared for there to be delays in securing your loan due to the Australian legal and administrative system.

Costs: The Australian Government may also charge you in addition to the lender's legal costs. Be sure to obtain full details of any charges.

Legal Advice: It is very important to seek legal advice before signing the contract for a property or paying a deposit, unless you are very experienced in buying property in Australia. As legal advice can be expensive it is recommended that you request a quote, including all costs, before proceeding.

Bank Account: An Australian bank account will be required.

Currency: Loans are available in Australian Dollars only.

Life Insurnce: It is recommended that a life assurance policy is set up on all mortgages.

Ownership: An Australian property purchase can be made in individual or in joint names.


Examples of Australian real estate are shown below. For a full list of available properties please use the Property Search button at the top of the page. For general help and advice on purchasing real estate - click here

Other pages relating to Australian real estate are: Port Douglas Real Estate ¦ Brisbane Real Estate ¦ Sydney Real Estate

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