Who Can Buy Property in Australia in 2026?

Who counts as a foreign person

Australia's foreign investment rules only apply to 'foreign persons'. According to the Australian Taxation Office (ATO), which administers residential foreign investment, you are not a foreign person if you are an Australian citizen, a permanent resident of Australia, or a New Zealand citizen holding a special category visa. Those buyers need no approval at all, even if they live overseas.

Most other buyers are foreign persons. That includes anyone on a temporary visa allowing a stay of 12 months or more, such as students and temporary skilled workers, and New Zealand citizens who are not resident in Australia. Companies and trusts with substantial foreign ownership are also caught, so take advice if you are buying through a structure.

• No approval needed: Australian citizens, permanent residents, NZ citizens with a special category visa
• Approval needed: temporary visa holders (12+ month stays), non-resident foreign nationals, foreign-controlled companies and trusts
• The definition is complex for entities, so check the ATO's guidance or get legal advice before buying through a company or trust

The ban on established homes now runs to 30 June 2029

From 1 April 2025, foreign persons have been banned from purchasing established (previously occupied) dwellings. The ban was originally due to end on 31 March 2027, but the ATO now states it has been extended to 30 June 2029. It also applies to temporary residents who previously could buy one established home to live in; that route is closed for the duration of the ban.

Limited exceptions remain. Treasury guidance lists purchases for large-scale redevelopment, established dwellings bought to house certain Australian-based employees (including workers under the Pacific Australia Labour Mobility scheme), and purchases that add to housing supply on a commercial scale. These are narrow and each still requires approval.

• Ban period: 1 April 2025 to 30 June 2029 (extended from the original 31 March 2027 end date)
• Applies to all foreign persons, including temporary residents wanting a home to live in
• Exceptions: qualifying redevelopment, housing for certain Australian-based employees, and commercial-scale housing supply

What foreign buyers can still purchase

New and near-new dwellings remain open. The ATO defines these as dwellings that will be, are being or have been built on residential land and have not previously been occupied for more than 12 months in total. Off-the-plan purchases, where you buy before the building is complete, fall in this category too.

Vacant residential land is also available, on condition that you build. Approvals generally require construction of at least one dwelling to be completed within four years, and the land cannot be sold on until the build is finished.

• New dwellings: allowed with approval, usually with no conditions on how you use the property
• Off-the-plan apartments and houses: allowed with approval
• Vacant residential land: allowed with approval, with a four-year build requirement
• Established homes: banned until 30 June 2029, limited exceptions only

Approval comes before the contract

Foreign persons must notify the ATO and receive approval, called a no objection notification, or hold an exemption certificate before acquiring residential land, whatever the price. Applications go through the ATO's Online services for foreign investors portal, the fee is payable when you apply, and the ATO says a decision can take up to 30 days once the fee is paid, so build this into your timeline.

After settlement you must register the property on the Register of Foreign Ownership of Australian Assets within 30 days. An annual vacancy fee applies if a dwelling is left unoccupied, and not genuinely available to rent, for more than 183 days in a year. Buying without approval attracts penalties.

• Apply via the ATO's Online services for foreign investors before signing an unconditional contract
• Allow up to 30 days for a decision after paying the application fee
• Register the property within 30 days of settlement
• A vacancy fee applies if the home sits empty for more than 183 days a year

Rules can change, so check before you commit

Australia's foreign investment settings have moved twice in two years, first the ban, then its extension, so treat any summary, including this one, as a starting point and confirm the current position on the ATO and Treasury foreign investment websites before committing money.

If you are weighing up where to buy, Habio has Australian listings alongside area guides and buyer guides that walk through the purchase process step by step.