Thanks for the site. Please look at it again. Two different sets of rules for Aussies and foreigners. Look at all those conditions attached to foreigners buying properties. Would I buy in Australia with those conditions? The answer is no.
You asked if foreign nationals can buy land. The answer is yes, quite easily. Most countries have certain restrictions on foreign nationals regarding property ownership. Those restrictions are pretty lax by international standards.
Allow me to use an example to illustrate one of the rules. The rest the rules I'll leave them to the lawyers to figure out. Correct me you I'm wrong, but if you're a foreinger and want to buy an existing apartment in Sydney, you can't. A foreigner can only own up to 50% of the property. Last time I checked nobody else is doing that, not even Shanghai.
Wrong. That clause refers to foreign nationals buying into residential development syndicates. The bottom line is that most countries regulate foreign ownership of land to some degree. The Australian regulations are similar to those of many countries, and primarily serve to encourage those foreign investors that intend to develop or add value to properties as opposed to those who wish to 'buy and hold'. By international standards they're not overly harsh. This thread has been so far hijacked it's not funny. I'm through with it.
Wrong? Please. Foreigners could only buy half of a city property, if it ain't new. And that's but one of the many rules. I'd put my $100 million in anywhere Asia or the States before even bothering with Australia, as soon as I get that much money first of course. Yeah let's quit hi-jacking this thread. I second that. Last post from me about this. Something from that site before I move on. I'll let you put your spin on it. Purchasing Guidelines Australian Citizens and Permanent Residents can acquire any property in Australia. The Australian Government, through the Foreign Investment Review Board (FIRB), regulates the sale of Australian property to overseas persons and corporations. There are many FIRB properties on our site, just look for FIRB "yes" in the upper right hand corner of each property page. However, most properties can become FIRB approved... Foreign nationals can buy: New Property Residential Projects or Apartments – up to 50% of the total project can be purchased by foreign nationals. See "City Living". Vacant Land - only if construction begins within twelve months of purchase. See our list of vacant land. Established Property - only if an additional amount of no less than 50% of the original property cost is spent on improvements, or additional construction (consent of the FIRB is required). Commercial Property - under AU$50M Status Buying Guidelines* Australian Citizen or Permanent Resident No Restrictions Temporary Resident, Retiree or Student Can buy new property without restriction or an established property provided it is your residence and it is sold when your visa expires. Consent of the FIRB is required. Foreign National or Foreign Corporation Can buy new property. Can buy vacant land as long as building commences within 12 months of purchase. Can buy an established property only if an additional amount of no less than 50% of the original property cost is spent on improvements or additional construction. Can buy up to 50% of new projects or apartments, Consent of the FIRB is required. Commercial Property under AU$50M No Restrictions to Foreigners. Some Rules apply.
No, they can buy an existing property if they spend minimum 50% of the value on capital improvements: The clause you're referring to is to do with residential developments - not private property purchases: Well, that's your perogative. The regulations in place aren't really designed to obstruct foreign investment, rather they're there to make sure the foreign investment that does occur is the sort most beneficial to the economy - developers who intend to add significant capital value to properties they purchase.
I thought you were going to quit hi-jacking this thread. Or did you mean you wanted me to quit and let you have the last word? Lame. I'll overlook other restrictions for now. This rule alone means a foreigner has to spend $30 million to purchase a stinky property locals could put up just $20 millions for. BTW, the rule you describe is for commerical properties under $50 million, not apartments in cities.