The information on this page is referred to residential property purchase. If you are interested in investing in commercial property, please contact us for assistance.

Residential real estate means all Australian residential land and housing other than commercial properties (such as, offices, factories, warehouses, hotels, restaurants and shops) and rural properties (that is, land that is used wholly and exclusively for carrying on a substantial business of primary production).

Non-residents who are not Australian Citizens or do not hold Permanent Residency status are limited by the Foreign Investment Review Board (FIRB) to purchase the following property options:

• Vacant land – subject to certain conditions
• A new development – units, townhouses, or house/land packages. These properties can be purchased before construction, during construction, or when the dwelling is newly constructed, it has not been sold but that may have been occupied for no more than 12 months.
• Existing residences for redevelopment – subject to certain conditions
• Residential real estate within a resort - a resort which has been designated by the Government as an Integrated Tourism Resort (ITR), subject to certain conditions.
• Time Share scheme - the acquisition of an interest in a time share scheme where the entitlement of the foreign person is no more than 4 weeks a year.

Please refer to residential FIRB Policy page for the eligibility criteria relating to specific categories of residential properties.

Single family dwellings

The development and construction of single family residences in Australia is undertaken at a fast cut. The major Australian cities, for the most part, have not been overbuilt. Therefore, the demand for these properties continues to outstrip supply. Most industry experts expect this status to remain in the next 10 years.

Apartments/Flats

When it comes to long stay tourism in Australia, a significant number of visitors plan to stay for a period of months rather than weeks or days. As a result, the market for apartments and similar types of housing remains strong. Recognizing the strength of this market, many are buying up apartments and other multi-family dwellings for investment purposes. When it comes to investing in this type of real estate, the number of foreigners involved in the ownership of these properties is largest in the major Australian urban areas. However, with more and more visitors to Australia as well as Australian are becoming more interested in life in rural areas, more apartment units are being developed in smaller communities.

Holiday Property

As tourism remains a primary industry in Australia, it is not surprising that holiday real estate is the most common type of property ownership in Australia by foreigners. By investing in holiday real estate, foreigners are able to spend time on holiday and have a home base in Australia. Many such investors are renting or leasing out these properties during those periods of the year when they are not using the properties. In many cases, the holiday property owner has managed to turn a tidy profit from this type of arrangement.

Title

Most properties in Australia are owned freehold, where the owner receives a copy of the certificate of title (deeds) or the strata title.  Apartments in Australia are sold freehold under the Strata Titles Act and are known as ‘strata title units’. Strata title arrangements usually include a management agreement for the provision of services and facilities tailored to the needs of residents, as well as a possible deferred management fee. Strata title provides the highest level of security of tenure, the ability to borrow against the equity in your home, and retention of any appreciation in its value.