The Foreign Investment Review Board treats new dwelling purchases differently from established property acquisitions. This distinction matters for your application strategy and approval timeline.
What Qualifies as a New Dwelling?
A new dwelling includes off-the-plan apartments not yet constructed, apartments in buildings under construction, newly built homes that have never been occupied, and house and land packages where construction is incomplete. The property must be purchased directly from the developer or builder in most cases. Established homes, even if recently renovated, do not qualify as new dwellings under FIRB definitions.
Why New Dwellings Receive Favourable Treatment
Australian government policy encourages foreign investment in new housing stock because it increases overall housing supply. This policy translates into practical benefits for buyers. Application fees for new dwellings are lower than for established properties. The approval process is generally faster. Conditions attached to approvals are typically less restrictive.
FIRB Approval Cost and Application Fees
Application fees vary based on property value. For residential land acquisitions under $75,000 in value, the fee starts at $4,400. Properties valued between $75,000 and $1 million incur a $14,700 fee. Higher value properties attract proportionally higher fees. Our fixed fee FIRB application service covers all legal work. The government application fee is paid separately and depends on your purchase price.
Temporary Residents and New Dwellings
Temporary visa holders buying a new dwelling to live in receive additional consideration from the Foreign Investment Review Board. You must demonstrate the property will be your primary residence during your stay in Australia. Student visa holders, working visa holders, and other temporary residents regularly receive approval for new dwelling purchases in Sydney, Melbourne, Brisbane, Perth, and other Australian cities.
Developer Exemption Certificates
Many developers hold exemption certificates that allow them to sell a specified number of dwellings to foreign buyers without individual FIRB approval for each sale. If your developer holds a valid exemption certificate with available allocation, your purchase may proceed without a separate FIRB application. We verify exemption certificate status and advise whether you need an individual application.
Commercial Property Foreign Investment
Foreign corporations and investors also purchase commercial property in new developments. The FIRB application process for commercial acquisitions differs from residential purchases. Thresholds, fees, and conditions vary based on investor nationality, property type, and value. Our lawyers handle both residential land acquisition and commercial property foreign investment applications.
