Foreigners can freely own residential and commercial property in urban areas as freehold. However, the Agricultural (Commercial) Land Reform Act stric... Read Moretly prohibits non-residents from purchasing "agricultural land" (which includes most river islands) without a waiver from the Minister of Land Reform. If an island is classified as agricultural, the State has the "First Right of Refusal." Foreign buyers typically face no extra taxes compared to locals, with transfer duties ranging from 1% to 8%. Read Less