The back story
Buying in Sydney: the harbour, the east and the rules for foreign buyers
Foreign buyers in Australia must notify before buying, are channelled to new homes, and are barred from established dwellings until 30 June 2029; New South Wales adds a surcharge purchaser duty. What to know before you look.
Photo Credit
Image courtesy of © Fin 22 · CC BY-SA 4.0 via Wikimedia CommonsAustralia’s policy is to channel foreign investment into new dwellings, so that it adds to the housing stock (foreigninvestment.gov.au). From 1 April 2025 to 30 June 2029, foreign investors are generally prohibited from buying established dwellings, with limited exceptions. Foreign buyers generally notify the Australian Taxation Office before buying residential land, register the purchase, and pay an annual vacancy fee if the home is neither lived in nor genuinely available to rent for more than 183 days a year. In New South Wales, Revenue NSW charges foreign buyers surcharge purchaser duty.
The federal rules
From 1 April 2025 to 30 June 2029, foreign investors are generally prohibited from purchasing established dwellings; new and near-new dwellings remain open, after notification to the ATO (foreigninvestment.gov.au). The ATO handles applications and the vacancy fee; its foreign-investor line is 1800 050 377.
The state duty
Revenue NSW charges surcharge purchaser duty to foreign individuals, trusts and corporations acquiring residential property; its rate and exemptions change with the state budget, so check Revenue NSW’s own calculator. We print no rates or prices.
The advisers
Use an Australian conveyancer or solicitor and a licensed agent. International firms with Sydney offices include Knight Frank and Savills; Sydney Sotheby’s International Realty and Ray White Double Bay work the eastern suburbs.
Check the current rules with an Australian lawyer before you sign anything.
Our advice: decide new or established first; the rules make that choice for most foreign buyers.
Why it's on our list
- The federal rules
- The state duty
- The advisers
Location
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