Costs of buying off-the-plan property in Australia

1. Legal fees (approximately A$1,300 – 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%.

Investment  3% - 4%.

3. Additional costs for overseas buyers

From 1 July 2020, the FIRB application fee for properties under A$1,000,000 is A$5,800 (some developers have already lodged this application, in which case it is waived).

For more details, see -

Information on approvals from the Foreign Investment Review Board (FIRB)

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 surcharge is calculated on the total property price; however, for house and land packages, it is calculated on the land value only).

For more details, see -

A complete guide to Australian stamp duty

4. Australian mortgage lender fees  

Lenders charge borrowers a set loan fee. Please contact Aobo Realty to confirm the specific charges.

5. Valuation fee  

The lender will conduct a valuation of the property the buyer intends to purchase, which forms the basis for calculating the loan amount.

6. Conveyancing fees and other miscellaneous costs

Around A$3,000.