Foreign Investment, and what you, as a foreign investor, are allowed to do...
Remember that Foreign Investment laws are in turmoil at the moment, with Parliament and Government frequently addressing new avenues to change foreign investment laws. ApartmentDevelopments.com.au is only offering advice, and shall not be held responsible - please check updates from the Foreign Investment Review Board (FIRB).
Are you a temporary resident and want to buy Australian property?
- Changes are occurring regularly, but as of today, foreign investors must still go through a a notification, screening and approval checklist and process inn order to buy in Australia.
- Temporary and foreign non-residents must go through the same process.
If you get approved by the FIRB you must sell the established property you have bought when you leave Australia. If you bought undeveloped land, construction must begin on that land within 24 months, or the land must be sold.
Importantly, the Australian Federal Government policy seeks to attract foreign investment to enter the market to surge house and land, apartments and townhouses forward.