Overseas Buyers:

What is the Government Policy on Foreign Investment?

Who does not require Government approval?

Do I need Government approval to buy real estate in Australia?

What type of property can foreign investors buy?

Other situations where FIRB approval is normally given

We specialise in helping overseas buyers find their dream home or investment property in Australia.
We understand the local market and have access to all new and “hidden” listings that may be suitable for you. We can show you the suburbs that have the best lifestyle, schools, capital gains potential or whatever features you are looking for.

Just tell us what you are looking for and we will start searching for the ideal property to meet your needs. For a detailed schedule of fees that best suits your personal requirements or to arrange a FREE consultation, please contact us on 07/5471 1215 (overseas callers +61 7 5471 1215) or complete our Client Profile and we will be in touch with you within 24 hours.

The Sunshine Coast property market has traditionally doubled in value every 7-10 years. Sunshine Coast’s current median price for houses is now over $520,000 and leading economic forecasters BIS Shrapnel and Residex predict house prices will continue to rise over the long term.

Purchasing a property in the Sunshine Coast real estate market is a wise decision that will provide substantial capital gains over the long term. Sunshine Coast is a world class destination with a multi-cultural population of over 250,000, a beautiful natural, subtropical climate, pristine beaches and an unparalleled National Parks system.

Sunshine Coast is surrounded by national parks and contains large areas of natural bushland scattered throughout suburban areas. The Sunshine Coast property market can be divided up into 6 major zones. We closely monitor the Sunshine Coast market and can advise international clients on areas that are likely to provide significant long term capital growth.

Sunshine Coast provides investors one of the best places to invest in real estate in the world. Australia’s economic growth rate is targeted to reach 3.5% pa this year. A strong domestic economy resilient to international shocks and with a stable government provides an excellent platform for property investing.

Although based in Sunshine Coast, we are also regularly travelling to other parts of Australia to source property. We can be flexible to meet your specific property requirements.

Government Policy on Foreign Investment

The Australian Government encourages foreign investment that is consistent with community interests. The Government recognises the significant contribution that foreign investment has made and continues to make to the development of Australia. Foreign investment provides scope for higher rates of economic activity and employment than could be achieved from domestic levels of savings. Foreign direct investment also provides access to new technology, management skills and overseas markets.

The largest number of foreign investment proposals in Australia involves the purchase of real estate. The Government seeks to ensure that foreign investment in residential real estate increases the supply of residences and is not speculative in nature. The Government's foreign investment policy aims to directly increase the supply of new housing (ie, new developments - house and land, home units, townhouses, etc) and brings benefits to the local building industry and their suppliers.

Who does not require Government approval?

Australian citizens, residing in Australia or abroad;
Holders of Australian permanent resident visas;
Persons entitled to hold a special category visa, for example, New Zealand citizens; and
Australian citizens and their foreign spouse when purchasing residential real estate in joint names as joint tenants.

Do I need Government approval to buy real estate in Australia?

You may need to apply for foreign investment approval if you are a foreign interest who is:

purchasing residential real estate (includes established or new residential property, vacant land and hobby farms);
purchasing rural land;
purchasing developed commercial real estate;
making an application for designation as an Integrated Tourism Resort or Strata Titled Hotel;
purchasing vacant commercial real estate for development;
acquiring shares, business assets or dealing with some other interest in an existing company;
creating a new business or project;
dealing with some other form of interest;

A foreign interest is defined as:

a natural person not ordinarily resident in Australia;
a corporation in which a natural person not ordinarily resident in Australia or a foreign corporation holds a controlling interest;
a corporation in which 2 or more persons, each of whom is either a natural person not ordinarily resident in Australia or a foreign corporation, hold an aggregate controlling interest;
the trustee of a trust estate in which a natural person not ordinarily resident in Australia or a foreign corporation holds a substantial interest; or
the trustee of a trust estate in which 2 or more persons, each of whom is either a natural person not ordinarily resident in Australia or a foreign corporation, hold an aggregate substantial interest.

What type of property can foreign investors buy?

Vacant Land
Subject to an investor commencing construction within 12 months of FIRB approval.
Second-hand dwelling
Purchases of second hand dwellings by foreign persons are restricted to temporary residents with visas (more than 12 months) or investors making the dwelling their principal place of residence.
New dwellings
Ownership is restricted to no more than 50 per cent of the dwellings in a development being sold to foreign interests. For single dwellings, a developer must have another dwelling that is similar in construction and proximity.
Commercial
Purchase of commercial property is normally approved unless it is contrary to the national interest. This is determined by the Government on a case by case basis.

Other situations where FIRB approval is normally given includes:

Foreign companies buying residences in Australia for their senior executives
Foreign nationals temporarily resident in Australia for more than 12 months buying for their own use as a principal place of residence subject to the sale of the property when they cease to reside in Australia.
Foreign nationals purchasing residential real estate as joint tenant with an Australian spouse.

Further details are available on the Foreign Investment Review Board website:
http://www.firb.gov.au