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If you are not an Australian citizen (or a NZ citizen, or an Aust. permanent resident, or married to someone with this status), and wish to purchase property in Australia, you will need to seek the approval of the Australian government first.
The Foreign Investment Review Board is the government body that regulates the purchase of Australian property by foreign persons. All applications must be submitted to the FIRB.
Below is some information on foreign investment, as advised from the FIRB website:
- Temporary residents (in Australia), for a period exceeding 12 months from the time of application for approval, are eligible to acquire residential real estate
- Foreign investors can exchange contracts for the purchase of property before receiving foreign investment approval, as long as those contracts are conditional upon receiving the approval
- Those on long-stay business visas who already own a home (purchased with govt. approval) can get approval to buy another house (this time for investment) provided it's not a second-hand residential property
- Australian citizens and their foreign spouses (which include de facto partners) are exempt from notification as long as the property is zoned residential and you are buying the property as joint tenants
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