Australian housing purchase immigration policy

Australian housing immigration policy 1. Foreigners apply to FIRB to buy Australian real estate. The Australian Real Estate Association (REIA) is a standardized way of Australian foreign investment, which can be compared with the open practices of the United States and other countries. Suitable for overseas people who buy and invest in Australian property houses, with the aim of increasing the supply of new houses. In addition, non-statutory organizations make suggestions to the government on behalf of Australia's overseas investment policy and provide some relevant purchase guidance. Second, the guiding principle of FIRB, a foreign buyer of Australian real estate, is to introduce it into new houses to increase supply. Eligible foreigners (mainly temporary residents and foreign non-residents) can buy real estate in Australia according to their own investment and housing needs! 1. Temporary residents either hold temporary visas, allowing them to stay in Australia for more than 12 months (no matter how long their visas stay), or apply for permanent visas and hold bridge visas, allowing them to stay in the country until their applications are finalized. Before buying residential property, they need to apply for and get FIRB's approval for foreign investment, which needs to meet certain standards: (1). Temporary residents can only buy a completed house at most, and it must be their main residence. They can't rent any part of the property and must make sure that the property is vacant at the time of settlement. (2) Reconstruction can really increase the housing stock, and they can usually buy houses that have been built for reconstruction; The project shall be completed within four years from the date of approval, and the existing houses shall not be rented before the demolition and transformation. (3) Temporary residents can't buy built houses as investment properties. ④ For new houses, the temporary population faces fewer restrictions. As long as FIRB approves every acquisition, they can buy any number of houses. Of course, temporary residents can also buy vacant land for residential development, but the development should be completed within four years from the date of approval, and the project completion certificate should be submitted within 30 days after receipt. 2. Foreigners who are not Australian residents are non-citizens who usually do not live in Australia. They include individuals with visas that only allow them to stay in Australia for a limited time, general partners of foreign governments, companies and limited partnerships that meet the definition of foreigners, and trustees that meet this clause. Before buying residential property, these people need to apply for and obtain FIRB's approval for foreign investment, and they need to meet certain standards: (1). They can't buy existing houses, but they can buy new houses unconditionally. Although FIRB usually needs approval before each acquisition, there is no limit to the number of new houses they can buy. (2) Foreign non-Australian residents are usually allowed to buy existing houses for reconstruction. As long as the reconstruction really increases the housing stock, the project will be completed within four years from the date of approval, and the existing houses will not be rented or rebuilt before demolition. (three) the purchase of vacant land for residential development shall be completed within four years from the date of approval, and the project completion certificate shall be submitted within thirty days after receipt.