In the Budget 2026–27, the Government announced that it will extend the temporary ban on foreign purchases of established residential dwellings by 2 years and 3 months until 30 June 2029. The ban was originally implemented for 2 years from 1 April 2025.
The extension of the ban means that until 30 June 2029, foreign persons, including temporary residents and foreign-owned companies, cannot buy an established dwelling in Australia, unless an exception applies. These limited exceptions will include investments that significantly increase housing supply or support the availability of housing supply.
Other existing exemptions remain in place, such as for purchases by:
- permanent residents
- New Zealand citizens.
The ATO will continue to enforce the ban through enhanced screening of foreign investment proposals relating to residential properties.
For more information, see Budget Paper No. 2, Budget 2026–27External Link.