Australian Properties

 What I need to know as non resident foreigner before buying real estate in Australia 

What I need to 
Know as non resident 
To buy real estate in 
Australia 

Non-residents buying Australian real estate must obtain Foreign Investment Review Board (FIRB) approval via the ATO and, from 1 April 2025 to 31 March 2027, are largely banned from purchasing established dwellings. Generally, you are restricted to new dwellings or vacant land, must pay significant application fees ($14,100+), and face state-based surcharge stamp duties.

Key Considerations for Foreign Buyers

FIRB Approval: 

You must apply for approval through the ATO's Online services for foreign investors before entering a contract.

Property Type Restrictions:

 As of 1 April 2025, a two-year ban prohibits foreign investors and temporary residents from purchasing established homes. You must generally purchase "new" dwellings or land.

Costs & Taxes: 

Foreigners pay higher fees for FIRB applications. Additionally, you will pay hefty state-based surcharge stamp duties (often 3–8% extra) and potentially higher capital gains taxes.

Financing: 

While possible, getting a loan from an Australian bank as a non-resident can be harder and may require higher deposits.

Vacancy Fee:

 If the property is not occupied or rented for 183+ days in a year, you may be liable for an annual vacancy fee. 

What I have to know 
As non resident 
Foreigner to acquire 
Real estate in Australia 

It is highly recommended to engage a specialized mortgage broker and a tax advisor familiar with foreign investment to navigate these regulations and tax obligations