Residential:
Residential real estate means all Australian residential land and housing. The Australian Government seeks to ensure that foreign investment in residential real estate increases the supply of dwellings and is not speculative in nature.  The policy seeks to channel foreign investment in the housing sector into activity that directly increases the supply of new housing (that is, new developments such as house and land) and brings benefits to the local bulding industry and its suppliers.
The effect of the more restrictive policy measures on developed residential real estate is twofold.  Firstly, it helps reduce the possibility of excess demand building up in the existing housing market.  Secondly, it aims to encourage the supply of new dwellings, many of which would become available to Australian residents, either for purchase or rent.  The cumulative effect should be to maintain greater stability of house prices and the affordability of housing for the benefit of Australian residents.

Exemptions
Certain acquisitions do not require notification or approval under the Foreign Acquisitions and Takeovers Act 1975 (also referred to as exempt acquisitions).  Foreign persons should determine whether their proposed acquisition is exempt and if in doubt, seek legal advice. 
Please note that we do not issue exemption letters.
Real Estate
You do not need to submit an application for approval to acquire real estate in Australia if:

1. you are an Australian citizen living abroad;
2. your spouse is an Australian citizen (not a permanent resident) and you are purchasing residential real estate in both names as joint tenants (not tenants in common);
3. you are a New Zealand citizen and you are purchasing residential property;
4. you hold a permanent resident visa and you are purchasing residential property;
5. you are a temporary resident and you are purchasing certain residential property as follows:
1. single block(s) of vacant land;
2. new dwelling(s); and/or
3. a second hand dwelling to be used as your principal place of residence (including if it is going to be demolished first then redeveloped);
6. you are purchasing new dwelling(s) from the developer, where the developer has pre-approval to sell those dwellings to foreign persons;