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While residential and commercial properties have become increasingly attractive to international investors, there are some factors to consider if you're not a resident. So we've compiled a guide to help you understand the processes and rules for foreigners buying property in Australia.
Whether you’re moving or investing, our global network and team of Australian mortgage specialists can give you expert financial advice to make the process easier.
Find out more about international mortgages.
The property market in Australia is generally seen as stable, well-regulated, and has historically been a good investment opportunity.
Despite some fluctuations, prices have increased over the long term. Cities like Sydney and Melbourne are especially popular with property investors and command higher prices, while other cities are catching up.
The flip side is that affordability has become a challenge for Australians. Many first-time and low-income buyers have been priced out of the market. This has partly led to restrictions on foreign ownership of property in Australia, especially residential properties.
Can foreigners and temporary residents buy property in Australia? The answer is yes – but with some conditions, such as approval from the Foreign Investment Review Board (FIRB), which oversees investment in the country.
Here's what you need to know about buying a house in Australia and applying for a mortgage.
If you’re not a resident, your first step is applying to the Australian Taxation Office (ATO) for approval to purchase a property.
Visit the Online services for foreign investors page and create an account. You can then provide details about the property you want to buy and other information.
As a non-resident, you can’t simply buy a home in Australia and move in. The FIRB rules allow foreigners to invest in new properties or upgrade existing ones.
You can buy:
If you plan to live on the property, you can buy:
Once you’ve sent in your application, the FIRB has 30 days to make its decision and another 10 days to notify you if you have FIRB approval.
If you're worried about losing out to another buyer during this time, you can enter into a contract with the seller. This contract is conditional on receiving FIRB approval.
The application fee for the approval service depends on the property price. There may also be other costs, such as the Foreign Citizen Stamp Duty.
New Zealand citizens don’t need to apply for FIRB approval and are exempt from many restrictions.
Once you’ve received approval and bought a property, there are other steps, like registering your investment with the Register of Foreign Ownership of Australian Assets. You will also need to declare any rental income in an annual tax return and file a vacancy fee return if you rent out the property.
If you plan to visit, work, study or live in Australia, you can find visa and immigration information through the Department of Home Affairs.
The most popular ways to find a property are by searching online or visiting a real estate agent in the area you’re looking in.
You can apply for a home loan in Australia as a foreigner but there may be tighter conditions such as a higher deposit or different interest rates. Our mortgage specialists can work with you to find the right loan for your needs.
Start by looking at your borrowing power to understand what you can afford and what your repayments might be.
If you’re already an HSBC Premier customer, you automatically qualify for Premier status in Australia and are eligible for a discounted HSBC home loan package annual fee. Other non-residents (excluding Australian and New Zealand citizens) can open an account with HSBC Australia before applying for a home loan through HSBC.
Are you ready to start your property search? Want to learn more? Request a call back from one of our mortgage specialists.
Speak to an Australian mortgage expert
Get a head start on the process by opening a transaction account. This can make it easier to apply for a home loan later on.
See our step-by-step guide for more information on how to buy a property in Australia.
Open an account with HSBC Australia
Make managing your money easy with an HSBC Everyday Global Account.
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Article first published January 2025
This article is intended to provide general information of an educational nature only. This information should not be relied upon as financial product advice as it does not take into account your individual objectives, financial situation or needs. You should consider the appropriateness of the information to your own circumstances and seek independent legal and financial advice prior to making any investment choice. There are risks associated with any investment and this document is not intended to list all of them in respect to any particular investment opportunity. Prices, levels and indications contained in this document are illustrative only and may not represent future performance. HSBC does not warrant or represent the performance of any investment opportunity.
Credit provided by HSBC Bank Australia ABN 48 006 434 162. Australia Credit Licence 232595. Home Loan Terms (PDF, 4MB), Personal Banking Booklet (PDF, 1.2MB), Fees and Charges (PDF, 727KB) and lending criteria apply. See Target Market Determinations for our products.
