Foreign Buyers

We specialise in helping overseas buyers (expats and foreign investors) 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, entertainment, sporting facilities, investment potential or other key 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. To obtain a fixed price quote or to arrange a telephone consultation, please contact us on +61 2 9975 3311. Please complete our Buyers Wishlist with your personal requirements and we will be in touch with you within 24 hours.

Sydney is a world class city with a multi-cultural population of over 4.2 million people, a beautiful natural harbour, pristine beaches and was home to the 2000 Sydney Olympic Games. Purchasing a property in the Sydney real estate market is a wise decision that will provide substantial capital gains over the long term.

The value of Sydney property market has traditionally doubled in value every 7-10 years over the last 100 years. Sydney’s current median price for houses is now.......click here to read more.

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.

 ***  New Changes to FIRB Rules  *** - Coming early 2009

1. Accommodation facilities such as resorts and hotels will be treated as commercial real estate rather than residential real estate. As a result, rather than all purchases of short term accommodation units being subject to the residential real estate rules, notification will now only be required where the value of the property exceeds the commercial property thresholds ($50 million or $5 million for heritage listed properties).
2. Temporary residents will be exempted from notification of proposed acquisitions of established residential real estate for their own residence, new residential real estate and vacant residential land. Further, the restriction preventing student visa holders from purchasing a property valued at over $300,000 will be removed. The rule preventing temporary residents from purchasing more than one established dwelling will be maintained.
3. The definition of temporary resident as a person with a visa of at least 12 months duration will also be updated to cover temporary residents with shorter term visas and long term bridging visa holders. Short term visitors, for example, with tourist or certain classes of business visas will continue to not be considered as temporary residents.
4. Streamlined administrative procedures will be established to facilitate non?resident foreign persons notifying and receiving approval for acquisitions of vacant residential land and new dwellings. Streamlined notification arrangements will replace the current administrative system which takes up to 30 days for approval.
5. The conditions on acquisitions by non-resident foreign persons of single blocks of vacant residential land will be removed except for a requirement to begin its development within 24 months. Currently development must commence within 12 months (this period is often extended) and at least 50 per cent of the value of the purchase price of the land must be spent on construction of a dwelling.
6. The condition that no more than 50 per cent of new dwellings be sold to foreign persons will be abolished provided developers market locally as well as overseas.
7. The definition of "new dwelling" will be extended to include those that have not been sold but that have been rented for no more than 12 months. This will provide more flexibility to developers to temporarily rent out units until buyers are found.
8. Foreign companies will be allowed to purchase established dwellings for the use of their Australian based staff.

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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

Foreign Exchange companies: If you would like some assistance in transfering your funds safely and quickly to Australia at cheaper than bank rates then we would recommend OzForex. Click on the link below for the latest foreign exchange and currency information for property buyers, investors, traders and travellers: http://www.ozforex.com.au/partner.asp?id=174

To obtain a fixed price quote or to arrange a telephone consultation, please contact us on +61 2 9975 3311. Please complete our Buyers Wishlist with your personal requirements and we will be in touch with you within 24 hours