Investing in property in Australia: what to buy and what it costs
Studio in a new building by the University of Melbourne
$270,000
A 30 m² studio with a kitchen along one wall, a shower room and a full-height window in a new building with a lift, a shared laundry and a study room in Carlton - the area by the University of Melbourne and the Parkville hospitals. The university is a 5-minute walk away, the centre 10 minutes by tram. Studios like this are let all year round to students and junior doctors.
One-bedroom apartment in a new building in central Melbourne
$350,000
A 50 m² apartment with a bedroom, a living room with an open kitchen and a balcony in a new building with a lift, a gym and a concierge in central Melbourne. Trams in the centre are free, and offices, universities and the station are 5-10 minutes away. The apartment is let long-term to young professionals and master's students, and vacant apartments in the centre let quickly.
One-bedroom apartment in a new building by Footscray station
$350,000
A 50 m² apartment with a bedroom, a living room with a kitchen and a balcony in a new building 3 minutes from Footscray station - an area in the west of Melbourne with a market, Vietnamese and African cafés and a university campus. The centre is 10 minutes by train. The area is changing fast: old warehouses are being rebuilt into residential blocks, and apartments by the station are let to young professionals and students.
Two-bedroom family apartment in Dandenong
$360,000
A 75 m² apartment with two bedrooms, a living room, a kitchen, two bathrooms and a parking space in a new building in Dandenong - a satellite city in south-east Melbourne with factories, a market and a hospital. The station is a 5-minute walk away, central Melbourne 45 minutes by train. Family apartments here are let long-term to factory and hospital staff.
Two-bedroom apartment in Box Hill by the station and shopping centre
$380,000
A 75 m² apartment with two bedrooms, a living room with a kitchen and a balcony in a new tower above Box Hill station and shopping centre - the business centre of eastern Melbourne with a hospital, a college and Asian restaurants. The centre is 30 minutes by train. The apartments are let to families of doctors, teachers and office staff, and vacant ones let quickly.
Two-bedroom apartment in Richmond, 5 minutes from the centre
$400,000
A 70 m² apartment with two bedrooms, a living room with a kitchen and a balcony in a new building on a quiet street in Richmond - an area by the sports park and the Yarra River, with trams, cafés and Vietnamese restaurants. The centre is 5 minutes by train. Apartments in Richmond are let long-term to couples and young professionals and are rarely vacant.
Two-bedroom waterfront apartment in Docklands
$400,000
A 75 m² apartment with two bedrooms, a living room with a kitchen and a balcony overlooking the harbour in a new building in Docklands - a waterfront area next to the centre with the offices of major banks and companies. The centre is 5 minutes by free tram. Rents for two-bedroom apartments here are the highest among the areas in the cards.
Two-bedroom apartment in Brunswick on the tram line to the university
$440,000
A 75 m² apartment with two bedrooms, a living room with a kitchen and a balcony in a new building by Sydney Road - Brunswick's main street with a tram, cafés and shops in the north of Melbourne. The University of Melbourne and the centre are 15-20 minutes by tram. The apartments are let to couples, young professionals and postgraduate students.
What property is bought for investment in Australia
Above are the most interesting offers selected by our experts: apartments in new buildings that a foreigner can buy with approval. A manager will find a property that fits your requirements.
New apartments for sale in Melbourne - by the university, in the centre and in suburbs with a train to the centre, prices by suburb, yield, purchase approval, taxes and foreign buyer surcharges.
A foreigner buys new housing in Australia: an apartment in a new building or a plot to build on, with the approval of the foreign investment authority. Established homes on the resale market have been closed to foreigners since 1 April 2025. An average apartment in central Melbourne costs about $350,000, a studio by the University of Melbourne $270,000, a two-bedroom apartment in Brunswick $440,000. A one-bedroom apartment in the centre lets long-term at about 5.9% a year before tax, and stamp duty, the 8% foreign buyer surcharge and the approval fee add about 16% to the price.
This page covers apartments in Melbourne: by the university in Carlton, in the centre and Docklands, in Richmond and Brunswick 10-15 minutes from the centre, and in Footscray, Box Hill and Dandenong - suburbs with a train to the centre and a lower entry price. It also covers prices and rents by suburb, taxes, foreign buyer surcharges and the approval process. What is for sale today and the exact price will be confirmed by a manager.
The market in brief
Prices and rules as of 2026.
What an apartment in Melbourne costs in 2026
Melbourne has the widest choice of new apartments in Australia: towers go up in the centre, Southbank and Docklands, and 5-10-storey buildings by the stations in the suburbs. Foreigners can buy only new apartments, so the choice is between the entry price and the rent: studios by the university and apartments in the western and south-eastern suburbs are the cheapest, areas 5-15 minutes from the centre cost more. Before the deposit the developer, the completion date and the owners' corporation fees are checked.
| Area | Average apartment | Weekly rent, 1-bedroom apartment |
|---|---|---|
| Carlton | ~$270,000 | ~$360 |
| Melbourne centre | ~$350,000 | ~$400 |
| Footscray | ~$350,000 | ~$320 |
| Dandenong | ~$360,000 | ~$270 |
| Box Hill | ~$380,000 | ~$350 |
| Richmond | ~$400,000 | ~$360 |
| Docklands | ~$400,000 | ~$430 |
| Southbank | ~$420,000 | ~$400 |
| Brunswick | ~$440,000 | ~$330 |
| Geelong | ~$470,000 | ~$270 |
Prices are median apartment sale prices by area for January-March 2026, rents are the median of new leases over a year, from the State of Victoria data; dollars at the rate of October 23, 2026, rounded up.
What yield letting gives
The gross yield of long-term letting of a one-bedroom apartment in central Melbourne is about 5.9% a year before tax and costs. Apartments are let for 6-12 months through a managing agent who finds the tenant, collects the rent and looks after the property. Melbourne's rental market is tight: vacant apartments by stations and universities let quickly.
| Tax | Rate |
|---|---|
| Rental income | on the non-resident scale of 30-45% after interest, owners' corporation fees, management and depreciation |
| Gain on sale | added to income and taxed on the scale; the buyer withholds 15% of the price and pays it to the tax office against the tax |
| Land tax surcharge | 4% of the value of the land share a year for a foreign owner in Victoria |
| Vacancy fee | if the apartment is not occupied or let for at least 183 days a year |
2026 data: the yield is based on median rents and apartment prices in central Melbourne; a comparison of countries is in the rental yield table.
Rental income from an apartment in Australia is taxed in Australia even if the owner does not live there: a return is filed every year, and a foreign owner also reports how many days the apartment was occupied or let.
What costs to add to the property price
| Payment | Amount |
|---|---|
| Purchase approval fee | $11,000 (15,600 Australian dollars) for a price up to 1 million Australian dollars |
| Victorian stamp duty | about 5% of the price on the state scale |
| Foreign buyer duty surcharge | 8% of the price |
| Conveyancer and registration | at the conveyancer's rates and the state land registry fees |
2026 data. For an apartment at 490,000 Australian dollars this comes to about 16% on top of the price. Australian banks rarely lend to non-residents, so the purchase is planned with own funds, and their origin is confirmed with documents. A manager calculates the total for a specific property.
In Australia approval is obtained and the developer is checked before the deposit
Mistakes cost more than the duty: a resale apartment a foreigner cannot buy, a contract without approval or a condition about it, the 8% surcharge and the approval fee left out of the budget, a developer that misses deadlines, a vacancy fee if the apartment is not let. Murblz support removes these risks: we find a new apartment for the budget and goal, prepare the approval application, check the developer and the building documents, calculate taxes and surcharges and take the deal through to registration in the land registry.
The cost of support depends on the purchase budget and the goal - investment, a home for your children's studies or for yourself; a manager will calculate it in the chat.
Does buying give a residence permit
Buying a home in Australia does not give a residence permit at any amount: visas and permanent status are obtained through work, study, business or family. Those who receive permanent status buy housing without approval and without foreign buyer surcharges.
A foreigner becomes the owner without a visa and without travelling to the country: approval is obtained before the contract is signed, the contract is signed remotely, and ownership is recorded in the state land registry.
How we find a property
- Budget and goal: investment, a home for your children's studies or for yourself. The manager checks whether your case fits the rules for foreigners.
- A selection of real properties: new apartments with the developer's or seller's price, owners' corporation fees and a yield calculation.
- Approval and checks before the deposit: an application to the foreign investment authority, checks of the developer, the completion date and the building documents.
- A remote deal: a contract conditional on approval, a deposit of usually 10% of the price, settlement with stamp duty and the surcharge, and registration in the state land registry.
The manager sends the selection to the chat, with sellers' prices on the date of the selection.
Options in other countries
Investment property in other countries:
- Investment property in Turkey: what to buy and what it costs
- Investment property in the UAE: what to buy in Dubai and what it costs
- Investment property in Serbia: what to buy and what it costs
- Investment property in Brazil: what to buy and what it costs
- Investment property in Georgia: what to buy and what it costs
- Investment property in Spain: what to buy and what it costs
- Investment property in Italy: what to buy and what it costs
- Investment property in Bulgaria: what to buy and what it costs
- Investment property in Cyprus: what to buy and what it costs
- Investment property in Montenegro: what to buy and what it costs
- Investment property in Greece: what to buy and what it costs
- Investment property in Thailand: what to buy and what it costs
- Investment property in Bali: what to buy and what it costs
- Investment property in Paraguay: what to buy and what it costs
- Investment property in Portugal: what to buy and what it costs
- Investment property in Egypt: what to buy and what it costs
- Investment property in Panama: what to buy and what it costs
- Investment property in France: what to buy and what it costs
- Investment property in the USA: what to buy in Florida and what it costs
- Investment property in the UK: what to buy and what it costs
- Investment property in Bosnia and Herzegovina: what to buy and what it costs
- Investment property in Argentina: what to buy and what it costs
- Investment property in Peru: what to buy and what it costs
- Investment property in Uruguay: what to buy and what it costs
- Investment property in Chile: what to buy and what it costs
- Investment property in Mexico: what to buy and what it costs
- Investment property in Armenia: what to buy and what it costs
- Investment property in Ireland: what to buy and what it costs
- Investment property in Costa Rica: what to buy and what it costs
- Investment property in Germany: what to buy and what it costs
- Investing in property in South Korea: what to buy and what it costs
- Investment property in Belarus: what to buy and what it costs
- Investment property in Kazakhstan: what to buy and what it costs
- Investment property in Japan: what to buy and what it costs
- Investment property in Poland: what to buy and what it costs
- Investment property in Taiwan: what to buy and what it costs
- Investment property in Qatar: what to buy and what it costs
- Investing in property in Hong Kong: what to buy and what it costs
- Investing in property in Sweden: what to buy and what it costs
- Investing in property in Finland: what to buy and what it costs
- Investing in property in Albania: what to buy and what it costs
More on buying in this country:
- Property in Australia for foreigners: rules, taxes and the deal
- How to buy an apartment in Australia
- Australian residence and permanent residency: all routes
- Taxes in Australia
- Melbourne: what to see and whether to move there
- Sydney: what to see and whether to move there
- Australia: all programs
All countries and budgets compared - on the page Investment property abroad.
FAQ
How much does an apartment in Australia cost in 2026?
Can foreigners buy property in Australia?
Does buying property give a residence permit in Australia?
What yield does letting an apartment in Australia give?
What taxes and fees does a foreigner pay when buying a home in Australia?
Is the sale of an apartment in Australia taxed?
Which area of Melbourne to buy an apartment in for investment?
Can you buy property in Australia remotely?
Don’t want to figure this out alone?
We handle the whole process end to end: we shortlist properties for your goal, run legal checks and support the deal through to registration. Ask your question in the chat: the free consultation starts right here. Legal representation before authorities and courts is handled by Murblz specialists together with locally licensed partners.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
Free consultationWhat happens next
- An expert reviews your situation and goal.
- We contact you the way you prefer and answer your questions.
- You get a work plan, honest timelines and a written quote.