Step one: work out whether you need FIRB approval
If you’re not an Australian citizen or permanent resident, buying residential property in Australia generally requires approval from the Foreign Investment Review Board (FIRB) first — this is a legal requirement, not optional. (Australian citizens living overseas long-term are generally exempt, but non-citizens almost always need to go through this process.)
One thing to watch closely: established dwellings are currently subject to a temporary restriction, in place until March 2027, during which overseas persons generally cannot purchase existing homes — only new-build properties or vacant land to build on. If you’re considering an established home, confirm upfront whether this restriction applies to your situation, so you don’t fall in love with a property you can’t actually buy.
FIRB approval carries an application fee, calculated on a sliding scale starting from roughly AUD 15,100, increasing with the property’s value.
Step two: stamp duty will be higher than for local buyers
In NSW, overseas buyers pay standard stamp duty plus an additional 9% Surcharge Purchaser Duty — the current rate after an increase from 8% — regardless of whether it’s a new or established property, an apartment or a house, in the city or regionally. If you hold onto the property afterwards, there’s also an annual 5% Surcharge Land Tax (up from 4%). Both of these need to be factored into your budget upfront, or you risk significantly underestimating your total cost.
Step three: getting finance — the right lender matters
This is where overseas buyers most often get stuck: most of Australia’s major banks have now paused lending to overseas buyers requiring FIRB approval, or are very conservative toward applicants whose income is entirely overseas-sourced. Even where a bank is willing to lend, you’ll typically encounter:
- LVR caps generally around 60%–70%, meaning you’ll need a 30%–40% deposit — considerably higher than for local owner-occupiers;
- Overseas income is usually only recognised at 60%–80% of face value, which directly affects how much you can borrow;
- Internal bank policy on this changes frequently and isn’t always published, so the answer you get from the same bank can differ from one enquiry to the next.
Because mainstream bank options are limited, we primarily arrange overseas buyer finance through our non-bank lending partners, covering both PAYG and self-employed income, currently up to 75% LVR — though the full FIRB approval process still applies.
A practical checklist for overseas buyers
- Confirm whether you need FIRB approval, and whether the established-dwelling restriction applies to the type of property you’re considering;
- Budget for the FIRB application fee, the 9% overseas buyer stamp duty surcharge, and the ongoing 5% annual land tax surcharge — not just the purchase price;
- Confirm early with your advisor what proportion of your overseas income the bank will actually recognise, to avoid the gap between “what you thought you could borrow” and what’s actually approved;
- Because eligible lenders are limited, start the finance conversation early — well before you’ve found a property and are ready to sign.
The tax and lending rules for overseas buyers change fairly often, and your specific situation — nationality, visa type, income structure — will differ from the next buyer’s. Get in touch to talk through your circumstances, and we’ll advise based on the latest policy.
The FIRB rules, stamp duty and land tax surcharge rates, and LVR figures referenced here reflect publicly available information at the time of writing (September 2026), for general information only; please refer to official FIRB and NSW Revenue announcements and each lender’s current approval criteria for your specific situation.
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