Countries Where It Is Hardest for Foreigners to Buy Property

Buying property abroad has become more difficult: more and more countries are restricting foreigners’ access to residential real estate not only through direct bans, but also through government permits, quotas, special taxes, and limits on land ownership.

The reason is almost the same everywhere: pressure on the domestic housing market. Authorities are trying to curb price growth, reduce speculative demand, and leave more properties available for local buyers.

In this article, we have selected the real estate markets that are the most difficult for foreigners to access and examined why it is so hard to enter them.

Top countries where it is hardest for foreigners to buy property

Restrictions for foreign buyers are structured differently from country to country. That is why, in our ranking, we assess not only formal bans but also the real difficulty of completing a transaction.

• For comparison, we used five criteria:
• Can a foreigner buy property without citizenship or permanent residency?
• Can they buy existing housing, not only new-build properties?
• Can they own land?
• Does the transaction require government review or approval?
• How much do taxes increase the final cost of the purchase?

A high position in the ranking does not always mean a complete ban. Sometimes a country appears at the top not because foreigners are entirely prohibited from buying real estate, but because only a narrow range of scenarios is available: for example, an apartment without land, a new-build property instead of a resale home, a purchase subject to government approval, or a transaction with a tax burden that sharply weakens the investment logic.

Canada

Canada is one of the clearest examples of a country where restrictions on foreign buyers have become part of housing policy. The federal ban on the purchase of residential property by non-Canadians has been in effect since 2023 and has been extended until January 1, 2027.

The ban applies to foreign nationals who are not Canadian citizens or permanent residents, as well as to foreign commercial entities. The restriction specifically concerns residential real estate, including houses with a small number of residential units and condominium apartments.

In practice, property purchases are available only to Canadian citizens, permanent residents, certain categories of people with protected status, and buyers who fall under the exceptions provided by law.

Australia

In Australia, the key barrier is primarily connected with existing residential properties, meaning houses and apartments that have already been built, sold, or used for living. From April 1, 2025, to March 31, 2027, foreign investors generally cannot buy such housing, except in limited cases.

The government does not want foreign capital to compete with local buyers for existing houses and apartments. At the same time, Australia is trying to direct foreign demand toward segments where it increases housing supply rather than removing ready-to-use properties from the market.

New Zealand

New Zealand is another country where it is not enough for a foreign buyer simply to have the money for a transaction. Housing in the country can be purchased without restrictions only by New Zealand citizens and by residents who meet the “ordinarily resident” criterion.

To meet this criterion, a person must hold a resident-class visa, have lived in New Zealand for at least the last 12 months, and be a tax resident, meaning they have been physically present in the country for more than 183 days over the past 12 months.

New Zealand closes its housing market not only to tourists and remote investors, but also to many people with temporary legal status. A work or student visa alone does not give the right to buy a home.

Denmark

Denmark is one of the strictest markets in Europe for foreign buyers. To buy real estate, the buyer must have permanent residence in Denmark or must have lived in the country for at least five consecutive years. If these conditions are not met, the transaction usually requires permission from the Danish Ministry of Justice through the Civil Affairs Agency. This rule applies both to primary residences and second homes.

A foreigner without a stable connection to the country cannot simply buy an apartment in Copenhagen or a house by the sea as an investment asset. It is especially difficult to obtain permission to buy a holiday home: for such properties, the buyer must prove sufficiently strong ties to the country.

Switzerland

In Switzerland, foreign buyers face one of the best-known restrictive regimes in Europe: Lex Koller. Under this law, the purchase of real estate by persons living abroad requires permission from the competent cantonal authority. The regulation applies not only to foreign citizens, but also to companies abroad, as well as Swiss companies under foreign control.

The complexity of Switzerland lies in the fact that the rules depend on several factors at once: the buyer’s status, the canton, the type of property, and the purpose of the purchase. A primary residence, a second home, a resort property, and commercial real estate may all be regulated differently.

In 2026, the Swiss government announced plans to tighten the rules for foreign real estate purchases amid concerns about housing shortages. Among the measures under discussion are additional permit requirements for citizens of countries outside the EU and EFTA, as well as stricter rules for purchasing resort properties.

Switzerland combines a high entry threshold, cantonal regulation, a permit-based system, and a limited number of scenarios for non-residents. Even when a purchase is possible, it requires legal review before the transaction, not after it.

Singapore

Foreigners are not prohibited from buying private residential property here, but the tax burden makes the transaction one of the most expensive in the world. Foreign buyers of residential real estate are subject to the Additional Buyer’s Stamp Duty, or ABSD, at a rate of 60% of the purchase price or the market value of the property, whichever is higher.

For example, when buying an apartment for SGD 1 million, a foreign buyer must pay an additional SGD 600,000 in ABSD alone, not including the basic stamp duty, legal costs, and further ownership expenses.

Some foreigners may qualify for treatment similar to that granted to Singapore citizens if they fall under the terms of free trade agreements. However, such relief is available only to certain categories of foreigners and requires a separate application for tax remission.

Thailand

Thailand is relatively open, and foreigners can indeed buy condominium units with full ownership rights. However, this works only within a special foreign ownership quota: the total share of foreign ownership in a condominium must not exceed 49% of the total area of all units in the building. If the quota has already been filled, the buyer will not be able to register ownership in their own name, even if the seller is willing to sell the property.

The main restriction, however, concerns land. Foreigners may acquire land only in very limited cases, for example, if such a right is provided for by an international treaty or granted through a separate permit.

Because of this, buying a villa in Thailand is often more complicated than buying an apartment. A foreigner may own the building but not the land beneath it, or may use a long-term land lease instead.

The Philippines

Foreigners can buy condominium units, but foreign ownership in a project is limited to 40%. The restriction is even stricter when it comes to land. Foreigners cannot own land directly; land ownership is reserved for Philippine citizens and companies in which at least 60% of the capital is owned by Filipinos.

At the same time, as in Thailand, a foreigner may purchase a house on a plot of land, but the land beneath it will have to be arranged separately under a long-term lease.

Vietnam

Vietnam formally allows foreigners to own housing, but under the Housing Law 2023, foreign individuals who are permitted to enter the country may own housing only within commercial residential projects and subject to security and defense requirements.

In a single apartment building, foreigners may own no more than 30% of the units. For individual houses, the limit is 250 houses in an area with a population of 10,000 people. If a project or district has already reached the limit, a new transaction with a foreign buyer may be declared invalid.

There is also a time limit. Foreign individuals may own housing for a maximum of 50 years from the date the certificate is issued, with the possibility of a one-time extension for up to another 50 years.

China

In Beijing, official guidance states that foreigners who have lived in China for work or study for at least one year may buy housing, but only one house or one apartment per person and only for personal use.

In Shanghai, for example, an expat who wants to buy housing must have an employment contract and a work visa, must not own any other real estate in China, must provide social insurance or personal income tax records for at least one year, and must use the property only for living purposes. Renting it out or using it commercially is not permitted.