February 17 2025:
Purchasing Property & Visa Status
From 1 April 2025, foreign individuals, including temporary residents, and foreign-owned companies will no longer be eligible to purchase established dwellings in Australia— unless they meet specific exceptions.
These exceptions are aimed at ensuring that foreign investment aligns with Australia’s housing goals, and include:
- Investments that significantly increase housing supply or support housing availability.
- Investments linked to the Pacific Australia Labour Mobility (PALM) scheme.
Exemptions Still Apply
Some groups will still be able to purchase established dwellings in Australia. These exemptions include:
- Permanent residents
- New Zealand citizens
- Spouses of Australian citizens, permanent residents, or New Zealand citizens (if the property is purchased as joint tenants)
Why This Matters to you
If you’re considering purchasing property in Australia, this change reinforces the importance of securing permanent residency (PR). Permanent residents will continue to have the ability to purchase property without the new restrictions, making PR a valuable step for those looking to invest in the Australian property market.
Read the Australian Government’s media release here.
For more information about these changes or if you’re interested in applying for permanent residency, contact us today for expert guidance and support.
