Australia is the continent furthest from Europe, but in economic terms the gap is minimal. A powerful mining and processing industry has made Australia the 14th largest economy in the world. This creates an excellent basis for the development of the real estate market, since arriving professionals need somewhere to live. If an investor wants to buy residential properties in Australia, he will be pleasantly surprised by the rental yield, especially in large cities.
Features of buying real estate in Australia
It is better to buy housing for life outside the large cities, since this is where most of the real estate in Australia for immigrants is located. Sydney and Melbourne are especially guilty of this - demand from immigrants has increased prices by 20-30% above the national average, but on the other hand, the requirements for properties from potential residents have also increased. Perhaps this is why both cities are in the top 10 most comfortable cities in the world.
Local residents are also tolerant of foreigners who want to buy housing in Australia, but the attitude is one thing, and the legislation is another. When buying real estate, foreigners need to keep in mind that non-residents can only freely purchase new buildings, properties under construction, and land for the construction of new housing.
Foreigners are required to obtain permits from the Foreign Investment Review Board (FIRB), the process of obtaining which takes 30-90 days and costs 14,100-88,000 AUD ($9047-56,468). This is, frankly, not cheap, but there is no need to have citizenship or a residence permit - a visa is enough.
Access to the secondary market is possible only as an exception, mainly for temporary residents. A special permit for purchasing properties on the secondary market is also issued through the Foreign Investment Review Board (FIRB).
Australian real estate prices
The housing prices in Australia greatly depend on the location of the property. For example, the western parts of the country are sparsely populated, and housing there is not in significant demand. The same applies to real estate in the interior of the continent. More expensive and popular options are located on the east and north coasts: the former due to their proximity to the capital, and the latter due to their proximity to the countries of Oceania.
Average property prices in Australia:
| Property type |
Average price (AUD/m²)
|
Average price (USD/m²) |
Notes |
| New build apartments |
7000–20,000 |
4494–12,840 |
Popular in Sydney and Melbourne |
| Townhouses |
6000–10,000 |
3852–6420 |
Two-storey houses with a small yard |
| Villas |
8000–15,000 |
5136–9630 |
Premium and luxury properties located on the coast |
In general, property prices in Australia are showing steady growth. In 2024 alone, property prices in the country have grown by 6.5% on average. The highest figures were shown by the island of Tasmania, also belonging to Australia. There, growth was 12% over the year.
Where is the best place to buy real estate for sale in Australia
Traditionally, the most popular city in Australia is its capital, Sydney. It is where the business and financial life of the country is concentrated, plus it is close to the West Coast, which means that working life can be combined with a vacation on the ocean.
Other popular cities:
- Melbourne. The second largest city with prices of 8,000–20,000 AUD/m² ($5,136–12,840). Popular among students and young professionals due to its universities and technology hubs. Suitable for buying apartments and townhouses.
- Brisbane. A city with moderate prices of 6,000–12,000 AUD/m² ($3,852–7,704) and a relaxed lifestyle. Demand for new buildings is growing due to the fact that those who cannot afford Sydney have started to come here.
- Gold Coast. A resort town on the coast with prices of 7,000–15,000 AUD/m² ($4,494–9,630). Ideal for buying villas and apartments for rent to tourists. Rental yields reach 5–6% per annum.
