In many countries, there are various levels of difficulty for foreigners trying to buy real estate there. Somewhere, it is not possible in principle for some foreigners; somewhere, a number of conditions must be met in order to buy; in some countries, there are certain areas where you cannot buy property; and so on. Here is a list of countries where there may be difficulties in buying an apartment or a house and outline the important details in each case.
Because of these restrictions, many high-net-worth individuals and global investors explore alternative legal pathways that provide greater mobility and property rights abroad. Programs such as Caribbean CBI offer investors a way to gain second citizenship, which can significantly simplify real estate purchases in multiple jurisdictions where foreign ownership is otherwise limited.
Naturally Australia is not listed below.
Contents:
Austria
Hungary
Vietnam
Greece
Denmark
Canada
Cyprus
UAE
Malta
Mexico
Poland
Saudi Arabia
Slovenia
Singapore
Thailand
Turkey
Lithuania
New Zealand
Finland
Switzerland
Montenegro
Estonia
Source: https://realting.com/news/where-it-is-banned-or-hard-for-foreigners-to-buy-real-estate
Foreigners can buy property in Australia, but they must generally obtain approval from the Foreign Investment Review Board (FIRB) via the Australian Taxation Office (ATO) before purchasing. Rules prioritize new dwellings or vacant land to increase housing stock, with restrictions often placed on buying established, existing homes.
Key Rules and Restrictions for Foreign Buyers
- Approval Needed: Non-residents must apply for approval to buy residential property.
- New Dwellings/Vacant Land: Foreigners are generally allowed to purchase new, never-lived-in dwellings or vacant land.
- Established Dwellings: Buying existing homes is usually prohibited, except for specific, limited circumstances (e.g., redevelopment that increases housing stock).
- Temporary Residents: Those with a temporary visa (e.g., 482, 491) can buy one established dwelling to live in, but it must be sold when they leave.
- Fees and Taxes: Foreigners pay application fees to the ATO and significant surcharge stamp duties, which vary by state (e.g., 8% in NSW).
- Penalties: Purchasing without FIRB approval can lead to heavy fines or forced divestment (sale) of the property
It is open slather for foreigners to buy new homes which is why the housing market has gone through the roof denying young Aussie first home buyers their right to buy a home. The housing industry today said the cost of new homes in Brisbane had increased by 15.7 per cent since this time last year.
China sits on a substantial residential and commercial land bank for future housing subdivisions similar to Woolies and Coles which have a significant commercial land bank to cater for future regional growth and to keep out competitors.
Both Labor and Liberal support this policy.
Nearly 3000 building companies went out of business in 2024 and the rate of bankruptcies has not declined since then. Builders we have spoken to say the federal and state government’s tough building environmental codes have added more then $20,000 to an average home and the building material supply chain has been severely affected since Covid.
