Frequently Asked Questions for Overseas Buyers Purchasing Property in Australia
1. Can overseas buyers purchase property in Australia?
Yes, provided the following conditions are met: you may purchase a brand-new residence, an off-the-plan property, or vacant land to build on. You must apply for Foreign Investment Review Board (FIRB) approval and obtain it before purchasing. This is usually handled by a solicitor, and after payment the statutory review period is generally within 30 days.
From 1 April 2025 to 30 June 2029, foreign nationals are temporarily prohibited from purchasing established (second-hand) dwellings, with very few exceptions; even holders of an Australian temporary visa purchasing for owner-occupation are not permitted to buy. Should the policy change in future, Aobo Realty will keep you informed of the latest information straight away. (Information verified as at July 2026, for general reference only and does not constitute legal or financial advice.)
2. What are the costs of buying a property?
Signing the contract: if you borrow 70%, the deposit is 30%. For off-the-plan property (apartments and townhouses), you generally pay 10%–20% at contract signing, with the balance of the purchase price (other than the loan) paid at settlement. For a house and land package, there are two contracts — one for the land and one for the house. If you borrow 70%, at contract signing you first pay 10% on the land and 5% on the house; at land settlement you pay the balance after deducting the loan and the deposit already paid to complete the land settlement, then move into the construction phase and pay the corresponding amounts according to the building progress. All construction payments are funded by the loan.
Other costs of buying a property include: the Foreign Investment Review Board (FIRB) application fee, stamp duty, title transfer fees, loan application fees, and solicitor's fees. Stamp duty varies depending on the state and the price of the property.
3. Where is the deposit paid, and is the money safe?
When purchasing a new or off-the-plan property in Australia, the buyer must, in accordance with the purchase contract, pay the deposit into the trust account specified in the contract. For all developer projects we market, the purchase contract clearly stipulates that the deposit is paid directly into the Developer's Solicitor Trust Account. The developer has no right to use these funds until settlement is completed. Solicitor trust accounts are strictly regulated under Australian law and subject to regular audits to safeguard buyers' funds.
If the contract is lawfully terminated due to the developer, the deposit paid by the buyer is generally refunded in full in accordance with the contract, so you will not lose your deposit because the developer is unable to complete settlement.
If the buyer has signed an unconditional contract and fails to complete settlement as required, the developer is entitled to forfeit the deposit in accordance with the contract and may pursue the buyer's liability for breach of contract under the law.
At settlement, the buyer generally pays the remaining purchase price into the trust account of their solicitor or conveyancer, who is responsible for completing the settlement of funds and the title transfer, ensuring the entire transaction is safe and properly conducted.
4. Can I obtain a loan to buy property in Australia?
Yes. Depending on your income situation, you may borrow up to 80%. Aobo Realty can provide loan services; please contact us regarding loan requirements, document preparation, process, and fees.
5. Will my legal rights be protected after an overseas buyer purchases property in Australia?
Yes. Your property in Australia is fully protected by law, just as it is for Australian citizens. Under Australian law, you hold freehold title to your property.
6. What documents are required to obtain a loan in Australia?
A. Proof of overseas income
B. Copies of your passport and identity card
C. Proof of financial capacity to pay the amount beyond the deposit and bank loan
7. I don't read English and can't understand the legal documents — how can I know whether my legal rights are protected?
Under Australian law, every property purchase must engage a local solicitor. Your solicitor is completely independent and works entirely for you. If needed, Aobo Realty can recommend a professional, Chinese-speaking solicitor. The solicitor's responsibilities include: 1) explaining the legal terms so you understand your rights and obligations, and guiding you through the signing; 2) verifying the settlement funds and completing the payment of funds and the smooth transfer of title.
8. After purchasing a property in Australia, how do I rent out and manage the house?
Engage a local licensed leasing agent. Rental management in Australia is highly professional and comprehensive, with services covering finding tenants, property maintenance, routine inspections, rent collection, bill payment, and end-of-lease inspections. The leasing company provides the landlord with regular statements, and at the end of each financial year provides a rental income and expenditure statement for tax reporting. Agents generally charge 7%–9% of the total rent as a management fee.
9. If any dispute arises during the tenancy, how will it be handled?
In most cases the leasing agent handles it in accordance with the relevant laws and regulations. If you are still not satisfied, you may engage a solicitor to lodge a complaint with the Office of Fair Trading.
10. If I want to sell the house in future, how do I go about it?
You can engage any licensed Queensland real estate agent to sell your house. You do not need to come to Australia in person, and the title transfer is handled entirely by a solicitor.