How easy is it for a foreigner to invest in Australian land?

mysticturtle on 21/06/2014 - 16:02
Last edited 21/06/2014 - 17:21

So I have an aunt from Vietnam who has been successful enough over the past couple of years to think she can afford property in Australia. She wants to buy land so that her son can study here in the near future. Truth be told, her son is an annoying spoilt brat that I'm afraid I might have to look after when he does decide to reside here. How easy can it be to buy land here? I want to tell her that it's complicated to discourage her but I'm afraid she'll see through me and find other methods to buy land here so it will just end up with bad tension between us!

Her husband is a very successful architect that built her a hotel that is doing really well in a tourist district. What methods would she have to go through to get land here?

Financial

Comments

  • PissLUR on 21/06/2014 - 16:21
    +3

    as long as you have the money, everything is easy.

    • bbear on 21/06/2014 - 20:28

      agreed.

      people who are cashed up can outbuy it from the locals.

  • p1 ama on 21/06/2014 - 20:51

    Why does she want her son to study here?

    I'm all for foreign students studying in Australia, after all, it's where a good chunk of university income comes from, but I always find it terrible value for money, paying such great amounts of money for a degree that's exactly the same as what he could get in his home country.

  • zaddaz on 21/06/2014 - 22:37

    actually most Vietnamese university degrees aren't well recognised outside of Vietnam.

    But encourage her to buy student accommodation so her son can stay in it. The yield is fairly high and easy to rent out.

    • mysticturtle on 22/06/2014 - 13:37

      This is true. Doctors are such a scam there. Patients prefer their doctors to have credentials from well developed foreign countries such as Australia/United States.

  • lisss on 22/06/2014 - 00:19
    +1

    See http://www.firb.gov.au/content/default.asp, in particular http://www.firb.gov.au/content/real_estate/residential.asp?N…

    Very easy to buy an off the plan development and very easy to buy vacant land, however she must commence construction within 24 months of receiving FIRB approval. Basically the policy is that foreign investment to increase Australia's housing stock is facilitated.

    • mskeggs on 22/06/2014 - 12:23

      This is the correct answer to the question.

    • mysticturtle on 22/06/2014 - 13:35

      Thanks for that. So is she allowed to buy a house and just rent it out?

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