WHAT TYPE OF PROPERTY CAN FOREIGN INVESTORS BUY?

Vacant land

Subject to an investor completing construction within four years of FIRB approval. Evidence of completion is submitted within 30 days of being received. 

Existing properties

Foreign investors are prohibited from buying established properties.

New properties

Newly built properties which have not been occupied before, or apartments within a development which have not been sold or occupied for longer than 12 months.

Investors will still need to seek approval from the FIRB to purchase, but these are usually approved without conditions.