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 buy residential land or property in Australia must submit an application in advance and pay the relevant application fee. Only after receiving FIRB approval can they purchase the land or property in question.
The fee schedule was updated from 1 July 2026. The following are the FIRB fees for buying a new property:
Buying a property valued at A$1,000,000 or less costs A$15,600; buying a property valued at A$1,000,000–2,000,000 (inclusive of A$2,000,000) costs A$31,300; and buying a property valued at A$2,000,000–3,000,000 (inclusive of A$3,000,000) costs A$62,600. For more detailed prices, please refer to the table below:
From 1 April 2025 to 30 June 2029, foreign persons are temporarily banned from buying established (second-hand) dwellings. Even those holding a short-term Australian visa are not permitted to buy an established dwelling for their own occupation. Should the policy be adjusted or updated in the future, Aobo Realty will keep you informed of the latest information as soon as possible.
Who is considered an overseas person?
Under the definitions in Australia's foreign acquisitions and takeovers legislation, an overseas person means:
A natural person who is not ordinarily resident in Australia — the key test is whether the person is ordinarily resident in Australia, not simply their nationality; Australian permanent residents are not restricted, while Australian citizens who have lived overseas for many years may also be treated as overseas persons;
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 meeting the conditions set out in the regulations.
The following persons or companies may be exempt from a FIRB application:
Australian citizens;
New Zealand citizens (who hold or are eligible for a Subclass 444 Special Category Visa);
Australian permanent residents;
Foreign persons who are the spouse of an Australian citizen or permanent resident and who buy the property as joint tenants;
Developers holding a FIRB exemption certificate;
Inheritance under a will;
Buying property directly from the Australian government or a government-owned entity.
Which dwellings can foreign persons buy? Foreign persons can generally, subject to FIRB approval, purchase the following property or land:
Brand-new dwellings (apartments or townhouses);
Vacant land – land that increases the number of titles, on which construction must be completed within 4 years;
There is generally no limit on the number of brand-new dwellings or vacant land blocks an overseas person can buy, but approval must be obtained before each purchase. How long does the approval process take?
Generally, FIRB approval is granted within 30 days of receiving the application documents and application fee; that is, applicants usually receive notification of whether approval has been granted within 30 days.
If you have any questions about overseas persons buying property in Australia, please leave us a message.
This article refers to the Australian FIRB official website: