Investing in Australian property has become popular with overseas investors and Australian expats looking for strong returns and stability. Australia was already considered a safe place to invest, and with the country successfully flattening the curve for COVID-19 and combined with attractive movements in many exchange rates there has been an increase in foreign citizens looking to buy property in Australia.
If you are looking to purchase property in Perth but do not live in Australia, you are still eligible to purchase – the process just takes a little more time. Australia does not have restrictive foreign investment laws or banking regulations that make it difficult to invest. The Australian Government’s foreign investment policy has been developed to encourage investment in Australia and ensure that such investment is consistent with the needs of the Australian community. The Government recognises the important contribution offshore investment makes to the development of Australia’s industry, resources and community.
- Australian permanent residents who are currently living overseas and want to buy property in Australia.
- Non-citizens or non-permanent residents living in Australia who want to buy property in Australia.
- Non-permanent residents not living in Australia who want to buy property here.
If you are a non-resident purchasing property in Australia from overseas, you are required to obtain approval to purchase from the Foreign Investment Review Board (FIRB) prior to taking out an actual home loan application. The Foreign Investment Review Board is an Australian Government entity that regulates the sale of Australian property to overseas persons and corporations.
If you are feeling overwhelmed, you are not alone. Buying a home can be a long and stressful process, especially if you are living overseas. Having a Buyer’s Agent in Australia can make the experience much easier. Having someone in the country that knows the ins and outs of the housing market will significantly lighten your load. Resolve Property Solutions work on behalf of buyers, searching for properties, evaluating them, and then negotiating with the selling agent to seal the deal at the best possible price.
Resolve Property Solutions are completely independent, so looking after your interests is our priority. Having a trusted independent buyer’s agent on the ground is reassuring knowing we will help you buy the right property at the right price.