Can individual foreign investors buy Australian property outright?
In most cases, yes. However, the Australian Government have a number of regulations in place outlining the type of property foreign investors are allowed to buy. For example, foreign investors are generally ineligible to buy established dwellings, but are able to invest in new properties, vacant land with the immediate intention of development, and commercial properties. Depending on the situation, there may also be the option to found an Australian company that serves as investment platform, in which the investor becomes a shareholder of this company. All eligibility is determined on a case-by-case basis. By partnering with Deutsche Property Pty Ltd we take the research, concern, and unknown out of the equation while also minimising foreseeable risk.
How does the buying process differ for foreign investors as compared to Australian investors? As with buying property in any well regulated country, buying property in Australia is a process that involves many different aspects of applications, approvals, and fees. These apply to both Australian residents and foreign investors. The key difference for foreign investors is that each purchase needs to be approved by the Australian Government’s Foreign Investment Review Board. Their website can be found at www.firb.gov.au. If you are not highly fluent in English, and do not already have certified English translations of all identification and financial affairs statements, the need for additional support in this area may also need to be factored in. Deutsche Property Pty Ltd is a completely bilingual service, and are adept in understanding Australian property ‘jargon’.
What are the fees involved in buying property in Australia?
Different fees apply depending on the price, type, and location of the property. Fees to plan for include ‘stamp duties’, pest and building inspections, legal fees, borrowing costs, and insurances. These fees apply for all buyers regardless of nationality, but they can be complicated to navigate for first time buyers and those without an understanding of the Australian property market. Deutsche Property Pty Ltd offer professional assistance and guidance in all areas of Australian property acquisition.
Does Deutsche Property Pty Ltd work completely independently?
No. Deutsche Property Pty Ltd has a large network of professionals who can assist with the addition of broader information or specialist knowledge where required.
Can Deutsche Property Pty Ltd work in conjunction with the team of professionals I already have?
Yes. This gives you, the investor, the option to bring in your own experience and team of trusted professionals. Deutsche Property Pty Ltd is committed to working with you and any team you may already have to maximise the value of your investments.