Non-Residents Government Requirements – Home Port Property

Australia welcomes and actively encourages foreign investors. However foreign investors do have some restrictions when purchasing residential property in Australia . The Australian Government monitors and controls the investment by foreign interests in Australian businesses and real estate through its Foreign Investment Review Board (FIRB). We would suggest that you have a look at their web site which can be found at www.firb.gov.au

In general the FIRB’s policy as it relates to the property that we market can be summarized as follows:

In respect to residential real estate the FIRB has set down strict guidelines for foreign investors wishing to purchase residential real estate in Australia .

New dwellings acquired ‘off the plan’ (before construction commences or during the construction phase) or after construction is complete are normally approved where the dwellings:

•have not previously been sold (that is, they are purchased from the developer); and
•have not been occupied for more than 12 months.

There are no restrictions on the number of such dwellings in a new development which may be sold to foreign persons, provided that the developer markets the dwellings locally as well as overseas (that is, the dwellings cannot be marketed exclusively overseas).

This category includes dwellings that are part of extensively refurbished buildings where the building’s use has undergone a change from non-residential (for example, office or warehouse) to residential. It does not include established residential real estate that has been refurbished or renovated.

Some of our projects are pre-approved by the FIRB. For those that are not, we work with our investors to gain full FIRB approval.

 

Go back to the Non Resident Investors Menu

Go back to the Investors Room Main Menu