1) Can I buy a property in Australia?
Yes. If you are not a permanent resident of Australia, and want to buy a home here, you must get approval from the Australian Government. You do not need approval if you are:
a) an Australian citizen with a foreign spouse and want to buy residential real estate as joint tenants
b) an Australian citizen resident abroad
c) a foreign national who holds a permanent resident visa, or a “special category visa”, for example, a New Zealand citizen.

2) Why do I need pre-approval?
The Australian Government believes that foreign investment in the housing sector should increase the supply of homes, and should not be speculative in nature. So the policy is designed to channel foreign investment into increasing the supply of new housing.

3) What types of applications are normally approved?
 a) New dwellings
The existing requirement that only 50 per cent of new dwellings can be sold to foreign persons on an ‘off the plan’ basis has been removed provided developers market locally as well as overseas. Vendors are no longer required to have concurrently developed a similar dwelling in order to be able to sell a new stand-alone dwelling to a foreign person. This will be reviewed after two years.
A ‘new dwelling’ is currently defined as having never been occupied or sold; this now includes dwellings that have not been sold but that have been rented out for no more than 12 months.
b) Vacant residential land
Acquisitions by foreign-owned companies, trust estates and non-resident foreign persons of single blocks of vacant residential land are required to build a dwelling within a period of 24 months (previously within 12 months and development expenditure of at least 50 per cent of land cost).
The conditions previously applied to acquisitions by temporary residents of single blocks of vacant residential land no longer apply (such acquisitions will be exempt after the Regulations are amended in early 2009).
4) Can I buy a pre-owned home?
Because Australia’s foreign investment policy is designed to increase the supply of new housing, foreigners cannot normally get approval to buy houses, flats or units which have been occupied. The exceptions to this rule are:
a) foreign nationals temporarily resident in Australia for more than 12 months, who are buying a home here
b)  foreign companies buying a home for their senior executives who will be living in Australia for more than 12 months.

5) Can I get pre-approval before I purchase the property?？
When you apply for foreign investment approval, you must give the address of the property you want to buy. The Australian Government cannot give in-principle approval.

6) Can I get approval after I purchase the property?
You should not sign any contracts before you receive FIRB approval, unless the contract is conditional on such approval. The Australian Government cannot give approval after you purchase the property.

7) What if I don’t get approval?
If you don’t get the necessary approval before hand, you may have to cancel the contract or sell your new property.