My husband and I are here on long stay business Visas and already own a home purchased with government approval. Can we get approval to buy another house this time for investment purposes ?
Yes, provided it is not a second-hand residential property. You would normally be granted approval to purchase a brand new home or a unit that has not been previously sold or occupied and is part of a development where not more than 50 percent of the dwellings are already sold to foreign interests. You would also be expected to be given approval to purchase vacant land on the basis that you agree, in writing, to build a house on the site within 12 months.
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