Foreign Ownership of Islands in Australia, Oceania

The process of buying property in Australia is relatively straightforward. Foreigners are allowed to purchase real estate as long as the Foreign Investment Review Board reviews and approves the purchase. This application takes under two months. Most islands are leasehold, however there are a few freehold islands that come onto the market now and then.

All contracts by foreign persons to acquire interests in Australian real estate must be made conditional upon foreign investment approval, unless approval was obtained prior to entering into the contract. For properties purchased at auction, prior foreign investment approval must still be obtained. The buyer will advise the Foreign Investment Review Board if they were successful or not in buying the property. If so, a copy of the signed contract must be forwarded to the FIRB after the auction.

Regional Statistics for Australia, Oceania

Location:

Oceania, continent between the Indian Ocean and the South Pacific Ocean

Population:

20,264,082

Languages:

English, Chinese, Italian, other

Capital:

Canberra

Currency:

Australia dollar

Climate:

generally arid to semiarid; temperate in south and east; tropical in north

Temperature Range:

+10 to +35

Terrain:

mostly low plateau with deserts; fertile plain in southeast

Natural Hazards:

cyclones along the coast; severe droughts; forest fires