Changes to real estate were announced by the Assistant Treasurer on 18 Dec 2008 – click here for details.  The FIRB website and policy documents will be updated when the changes are fully implemented (approximately February 2009).

Real Estate

The real estate category covers investment in:

• residential real estate (including property that is zoned other than residential real estate but including a component of residential);
• commercial real estate;
• rural land;
• accommodation facilities, which can include hotels/motels, hostels and serviced apartments; and
• urban land corporations/trusts, ie the trust or corporation holds more than 50 per cent of its assets in urban land (vacant or developed).

This category also includes a section on compliance issues.