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1. Foreign investors: check FIRB first
Foreign persons generally need approval from the Foreign Investment Review Board (FIRB) before buying residential property in Australia, and fees apply. Applications are made through the Australian Taxation Office. The Australian Government has also banned foreign persons from buying established dwellings from 1 April 2025, and has extended that ban to 30 June 2029, with limited exceptions. An annual vacancy fee can apply if a foreign-owned home isn't lived in or genuinely available for rent for more than 183 days a year. New dwellings and off-the-plan purchases are treated differently. Check your situation with the ATO and foreigninvestment.gov.au before you sign anything.
2. Taxes to check in Victoria
Victoria's State Revenue Office charges foreign purchaser additional duty on top of land transfer duty, and an absentee owner surcharge on land tax for absentee owners. Investment properties may also be subject to land tax and, if left empty, vacant residential land tax. Rates and thresholds change; check the SRO and get tax advice.
3. Buying off-the-plan or new
Off-the-plan purchases mean signing now and settling when the building is finished. Read the contract carefully, understand the sunset date and what happens if the build is delayed, and get the finished property inspected before settlement. NDL Realty offers off-the-plan sales through NDL Projects and pre-settlement inspections.
4. Managing a property from afar
From afar you rely on your property manager for renter selection, maintenance, rent collection and compliance. NDL Realty says its team knows what foreign investors look for: a multilingual team, a single point of contact, and an owner portal so you can see what's happening.
Prince, Dih Luh and their team knows exactly the needs of foreign investors. From the day we appointed NDL to manage our property in Melbourne, we did not have to worry about anything. NDL manages our tenants, the property expenses and pretty much any issues that arise. – Elson Kho, Google review as published on ndlrealty.com.au
Interstate or overseas owner? Ask NDL Realty about managing your Melbourne property.
Ask NDL5. Run the numbers
Include rent, vacancy, management fees, owners corporation fees, council rates, water, insurance, land tax, repairs and loan costs, plus currency movements if you earn overseas. A rental appraisal before you buy gives you a realistic rent figure to plug in.
Official sources
- Foreign investment in Australia – Residential land
- Australian Taxation Office – Buying residential property as a foreign person
- State Revenue Office Victoria – Foreign purchaser additional duty
- State Revenue Office Victoria – Absentee owner surcharge
- State Revenue Office Victoria – Vacant residential land tax
- NDL Projects – off-the-plan
This guide is general information, not legal, tax or financial advice. Laws, taxes and government schemes change; check the official sources above and get professional advice for your situation. Melbourne Realtors is a business name of NDL Realty.