Can non-Australian buy a property in Australia?

Viewing 5 posts - 1 through 5 (of 5 total)

Manita
Member
@manita
Join Date: 2010
Post Count: 3
February 4, 2010 - 12:26 pm
Hi guys,
After reading the book “From 0 To 130 Properties in 3.5 Years”, I become hopeful to get some ideas to be financial independence. I am overseas graduate student who came here few years ago with a hope that I can achieve a financial independence. Start from nothing, not even a full time work and credit guarantee, I am curious whether I can become an owner of property.
I do not know how to get started though. So I would like to know that can I (non-Australia) buy a property?
Cheers,
Manita
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
February 5, 2010 - 12:35 am
I think you need to have a look at the Foreign Investment Review Board, the link below, and see what the restrictions are.
It also prevents prospective migrants from using "access to real estate owned" as a demand for automatic entry into Australia, plus a host of other problems they want to avoid.
http://www.firb.gov.au/content/real_estate/real_estate.asp
Cheers
thecrest
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mattnz
Participant
@mattnz
Join Date: 2007
Post Count: 574
February 7, 2010 - 5:01 am
Also be aware that the conditions that existed in Australia when the book was written don’t reflect the property market today. Parts of the US and Canada do reflect those conditions though. You may want to look at them as alternative markets if you want to use the strategies in the book.
Manita
Member
@manita
Join Date: 2010
Post Count: 3
February 13, 2010 - 12:53 pm
Thank thecrest and mattnz for good advice. I will have a look and see what is needed to be consider.
Kipper57
Member
@kipper57
Join Date: 2006
Post Count: 252
February 18, 2010 - 8:20 am
I would think the U.S. still remains a little risky, I was thinking Brazil would not be a bad idea however not that familiar with their market
The positives are, in the next few years they have the World Cup Soccer, and the Olympics year 2012 I think. Their currency is quite weak now but has been much stronger than the Aust dollar in the past.
On investment sites eg stocks there is a lot of talk re developing the infrastructure in Brazil, I believe they have their own resources unlike China having to bring it all in. Just sounds worth a consideration in my view