Can Foreigners Buy Property in Australia?

Australia welcomes foreign investment in real estate, but strict rules apply, especially for non-residents and temporary visa holders. Whether you're looking to invest, relocate, or buy a home for your children studying in Australia, it's important to understand the restrictions, approval requirements, and property types you're legally allowed to purchase.

Types of Properties Allowed

The Foreign Investment Review Board (FIRB) governs what types of property foreign buyers can acquire in Australia. The rules differ depending on your visa/residency status and the type of property:

Allowed for Most Foreign Investors:

• Newly constructed dwellings (brand new apartments, townhouses, house-and-land packages)

• Vacant land (on the condition that you build a dwelling within four years)

• Off-the-plan developments (with prior FIRB developer approval)

Not Allowed (in most cases):

• Established (second-hand) residential properties

• Unless you're a temporary resident living in it as your main residence (and required to sell upon leaving Australia)

• Or you're redeveloping it into multiple dwellings (approval required)

This means most non-residents can only invest in new properties or developments, with the aim of increasing Australia’s housing supply, not competing with local buyers for existing homes.

Temporary Residents vs. Non-Residents

Your visa status plays a major role in what you can buy:

Temporary Residents (e.g. student visa, temporary work visa):

• Can buy one established dwelling to live in as their main residence (must sell when they leave Australia).

• Can also purchase new properties or vacant land, with FIRB approval.

• Cannot purchase existing properties to rent out or as a second home.

Foreign Non-Residents (no Australian visa):

• Cannot buy established dwellings under any circumstances.

• Can buy new properties, off-the-plan apartments, or vacant land for development.

• Must apply for FIRB approval before signing a contract.

From 1 April 2025, the Australian Government has introduced a temporary ban on foreign non-residents purchasing established dwellings until 2027. This further tightens an already strict regime.

FIRB Approval Requirements

Foreign investors must apply for Foreign Investment Review Board (FIRB) approval before entering into a contract (or make the contract conditional on FIRB approval).

Key details:

• FIRB Application Fee: Based on property price (e.g. ~$14,100 for properties up to $1 million; higher for more expensive properties).

• Approval Timeline: Typically 30 days, but can take longer.

• Penalties: Purchasing without approval can lead to fines and forced sale of the property.

FIRB applications are assessed by the Treasury and approved if they align with the national interest, which for residential property generally means contributing to housing supply or providing housing for the buyer’s use.