FIRB (Foreign Investment Review Board) Fee Update for the 2026–2027 Financial Year
Since December 2015, under the rules of Australia's Foreign Investment Review Board (FIRB), overseas investors wishing to purchase residential land or property in Australia must submit an application in advance and pay the corresponding application fee. Only after receiving FIRB approval can they proceed to purchase the relevant land or property.
The fee schedule has been updated effective 1 July 2026. The following are the FIRB fees for purchasing a new property:
A property priced at A$1,000,000 or below incurs a fee of A$15,600; a property priced between A$1,000,000 and A$2,000,000 (inclusive of A$2,000,000) incurs A$31,300; and a property priced between A$2,000,000 and A$3,000,000 (inclusive of A$3,000,000) incurs A$62,600. For more detailed pricing, please refer to the table below:
From 1 April 2025 to 30 June 2029, foreign persons are temporarily prohibited from purchasing established (second-hand) dwellings. Even those holding a short-term Australian visa and intending to live in the property themselves are not permitted to buy an established dwelling. Should this policy be adjusted or updated in the future, Aobo Realty will keep you informed of the latest information at the earliest opportunity.
Who is considered an overseas person?
Under the definitions of Australia's foreign acquisitions and takeovers legislation, an overseas person refers to:
A natural person who is not ordinarily resident in Australia — the key test is whether the person is ordinarily resident in Australia, not nationality alone; Australian permanent residents are not restricted, while an Australian citizen who has lived overseas for many years may be deemed an overseas person;
An Australian-registered company or trust whose shareholders are generally not resident in Australia, or a company or trust in which a foreign company, foreign trust or foreign government holds a substantial interest;
An Australian-registered company or trust with two or more shareholders who are generally not resident in Australia, or a company or trust in which foreign companies or foreign governments together hold a substantial interest;
A foreign government;
Any other person who meets the conditions set out in the regulations.
The following persons or companies may be exempt from applying to FIRB:
Australian citizens;
New Zealand citizens (who hold, or are eligible for, a Special Category Visa subclass 444);
Australian permanent residents;
A foreign person who is the spouse of an Australian citizen or permanent resident and purchases the property as joint tenants;
Where the developer holds a FIRB exemption certificate;
Inheritance under a will;
Purchasing directly from the Australian government or a government-owned entity.
Which dwellings can foreign persons buy? Foreign persons can generally purchase the following properties or land through FIRB approval:
Brand-new dwellings (apartments or townhouses);
Vacant land — land that increases the housing stock, on which construction must be completed within 4 years;
There is generally no limit on the number of brand-new dwellings or vacant land parcels an overseas person may purchase, but approval is required before each acquisition. How long does the approval take?
Generally, FIRB approval is issued within 30 days of receiving the application materials and the application fee — that is, applicants will usually be notified of whether their application has been approved within 30 days.
If you have any questions about overseas persons buying property in Australia, please leave us a message.
This article references the official Australian FIRB website: