I am a foreign person living in Australia on a long stay, temporary resident visa. Do I need approval to buy an established house to live in?
Yes. Foreign persons temporarily resident in Australia for a period exceeding 12 months from the time of application for approval are eligible under foreign investment policy to acquire residential real estate. If the property being purchased is an established dwelling, that is, one that has been previously occupied or sold, foreign investment approval is still available provided that the dwelling is to be used as the person’s principal place of residence, not for rental purposes and the property must be sold when their visa expires or they cease to reside in Australia.
A. Yes. Foreign persons temporarily resident in Australia for a period exceeding 12months from the time of application for approval are eligible under foreign investment policy to acquire residential real estate. If the property being purchased is an established dwelling, that is, one that has been previously occupied or sold, foreign investment approval is still available provided that the dwelling is to be used as the person’s principal place of residence, not for rental purposes and the property must be sold when their visa expires or they cease to reside in Australia. For more detailed information, see Policy Documents.
Related Questions
- I have been living in Australia on a temporary resident visa for several years, but my current visa expires in less than 12 months. Am I eligible to buy an established (second hand) dwelling?
- I have just been granted a temporary resident visa and intend to move to Australia within a few months. Am I eligible to buy an established (second hand) dwelling?
- I am a foreign person living in Australia on a long stay, temporary resident visa. Do I need approval to buy an established house to live in?
