Can New Zealand Citizens Legally Buy Property in Australia?
Australia and New Zealand share a close bond through the Trans-Tsman travel system, allowing citizens of both countries to live and work in any country with minimal restrictions. But when it comes to investing in real estate, especially in Australia's competitive property market, many Kiwi often asks: Can New Zealand citizens buy property in Australia? The brief answer is yes, but there are some essential details that you need to know to invest smart and successful. 1. Can New Zealand Citizens Buy Property in Australia? Yes, New Zealand citizens can legally buy property in Australia. Under the Trans-TSMAN agreement, New Zealand citizens are considered "discounts" and do not require prior approval from the Foreign Investment Review Board (FIRB) to purchase residential property in Australia. It gives a significant benefit to Kivis compared to other foreign nationals, often faces strict regulators and financial obstacles when investing in the Australian property market....