Buying Land

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Old Jul 29th 2003, 9:39 am
  #1  
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Default Buying Land

Maybe someone can shed some light on this. As a non resident in Australia you can't buy a house but can buy land, is this correct ?. Also can you buy off plan, ie buying a house before it is built ?.
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Old Jul 29th 2003, 10:22 pm
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Default Re: Buying Land

Originally posted by Amazulu
Maybe someone can shed some light on this. As a non resident in Australia you can't buy a house but can buy land, is this correct ?. Also can you buy off plan, ie buying a house before it is built ?.
Their is something here called the Foreign Investment Review board (I think thats it's name) and if you are non resident you have to get their permission before you can buy any property or land. With what I've read on here it's just a formality, but I'm far from convinced that is the case. A lot of new properties already have FIRB approval to sell to out of towners, and then you will be OK.
The theory is non residents can only buy new property or build new property (to improve the houseing stock) and then must sell to residents.

I just don't know how much the gov enforces these rules and how easy it is to get around them.
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Old Jul 30th 2003, 12:18 am
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Default Re: Buying Land

Originally posted by Amazulu
Maybe someone can shed some light on this. As a non resident in Australia you can't buy a house but can buy land, is this correct ?. Also can you buy off plan, ie buying a house before it is built ?.

try this link for FAQ on the FIRB
:lecture:
http://www2.reiwa.com/content-foreign.cfm
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