Ban on foreign property purchases
The Government has announced a temporary ban on investors buying established homes between 1 April 2025 to 31 March 2027.
The measure aims to curb foreign “land banking.”
From 1 April 2025, foreign investors (including temporary residents and foreign-owned companies) will be prohibited from acquiring established dwellings unless they qualify for specific exemptions. While exemptions exist, they are limited.
In addition, foreign investors purchasing vacant land will be required to meet development conditions that require the land to be used productively within a reasonable timeframe.
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