nja

I'm currently in Australia to complete my visa validation. I have a 175MODL visa and just visited a real estate agent. They told me that I am NOT eligible to buy a property until I have Australian citizenship. Are they mistaken? This also concerns me because my OH was also going to buy as small coffee shop. Will we be able to buy a business?

I was under the impression that as we have a permanent resisdent visa that we could buy property buisness and/or house.

Any assistance would be greatly appreciated.'

Concerned ....

Bermudashorts

The agent is wrong, of course you can buy a house. I am sure a business also.

vsuccess

Anyone can buy a business in Australia even on a temporary visa. Regarding property, you might have difficulty getting mortgage as you are new and I assume that you don't have a job in Australia. However on cash payment you can surely buy property.

Ozwanderer

They are mistaken and do shop around with a few agents, particularly with buying a business and seek some info from a Small Business Association and some states have a Small business section as part of a larger department, Department of Consumer Affairs or somrthing like that.

wilson01

Having watched Wanted Down Under,for the last 3 weeks, iv learnt that as long as you can provide 6 - 12 months evidence of employment in Australia then you can buy a house. However, it did mention that it may be harder on a temporary visa but there are many places that will still give you a mortgage. Obviously, if its a cash purchase then there shouldnt be any problem

louie

The question as far as temporary visa holders is concerned is not whether you can get a mortgage, it is whether you are permitted to purchase property in Australia. You used to have to get permission from the Foreign Investment Review Board (FIRB). I know they have recently relaxed some of the rules, but a temporary resident would need to investigate what legal hoops they would need to jump through first. The estate agent probably realised there was a restriction on foreigners buying property, but didn't realise that PR holders are exempt from that.

nja

Thanks all. Your responses have helped tremendously