Overseas Investors Are Snapping up Melbourne Properties. Here's why.

Updated: Sep 15, 2020

The internet is thriving with news that overseas buyers have been property shopping in Australia, and in particular, Melbourne. But why this interest in Melbourne properties? Why are overseas investors buying up properties in Melbourne? What do they know that you don't? How do you get started? What do you need to know?

As an overseas investor, if you've been planning to invest in Melbourne properties, you would have come across FIRB, and you're also probably aware of how the different types of residency status affects what you can and cannot buy. You'll also be aware of some possible additional stamp duties which are applicable to your situation, depending on your residency status and the type of properties you are intending to invest in.

If you would like more information on these, follow these links:

  1. Foreign Investment Review Board (FIRB)

  2. Residency status and what you can buy

Additional Stamp Duties

In Melbourne and Victoria, an additional stamp duty of between 3% and 8% are imposed on non-residents purchasing properties in Victoria. More details here.

But is this something an overseas property investor should be worried about? No, is the short answer. But why no? Here are the facts.