Australian Property | The Costs of Buying Off-the-Plan Property in Australia (Updated 2023)

1. Legal fees (approximately A$1,500 – A$1,800)

Under Australian law, buyers must complete the entire purchase and property settlement process with the assistance of a solicitor. Fees vary depending on the scope of the solicitor's services.

2. Stamp duty

Owner-occupier  1% – 3% of the total contract value of the house.

Investment  3% – 4% of the total contract value of the house.

3. Additional costs for overseas buyers

  1) From 1 July 2023, the FIRB application fee for properties with a total contract price under A$1,000,000 is A$14,100.

For details, see -

Information on approval by the Foreign Investment Review Board (FIRB)

  2) From 1 July 2018, overseas buyers must pay a stamp duty surcharge: 7% in Queensland, and 8% in New South Wales and Victoria (for apartments and townhouses, the tax is calculated on the total property price; however, for a house and land package, the tax is calculated on the land price only).

For details, see -

A complete guide to Australian stamp duty

4. Australian property loan application fees 

Lenders charge overseas borrowers a certain amount in loan fees. Please contact Aobo Realty to confirm the specific fee schedule.

5. Conveyancing fees and other miscellaneous costs

Around A$4,000.