FIRB Approval for Foreign Buyers on the Gold Coast, QLD: Your Plain-English Guide

If you're buying property on the Gold Coast from overseas, the rules changed sharply in 2025, and most third-party guides haven't caught up. The established-dwelling ban that took effect on 1 April 2025 closed off the most common purchase path for foreign buyers, and a further extension in the 2026-27 Budget pushed the end date to 30 June 2029, not 31 March 2027 as many sources still say.

What remains open is genuinely viable, but it requires understanding exactly which purchase types are still available, how FIRB approval works in practice, and how the Queensland duty surcharge stacks on top. Whether you're a temporary resident looking at a new apartment near Surfers Paradise, an overseas buyer eyeing a new development in Coomera, or an expat planning a return to Southport, your pathway depends on your visa and your purchase type.

The interstate and expat buyer side of a purchase here involves more moving parts than most buyers expect, which is where a local broker who understands the lending side of a FIRB purchase makes the difference.

What can foreign buyers actually purchase on the Gold Coast, QLD right now?

The short answer is new dwellings and vacant residential land, with FIRB approval, and nothing else if you're a foreign person or temporary resident. The established-dwelling ban that commenced 1 April 2025 prohibits foreign persons from buying existing homes and has been extended to 30 June 2029. Permanent residents are not affected by the ban at all.

What remains open for foreign buyers in the Gold Coast market includes new apartments, newly constructed houses, off-the-plan purchases, and vacant land bought with the intention to build. The Gold Coast's new-build pipeline, particularly the apartment and townhouse stock coming through in suburbs like Coomera, Southport and the coastal strip, means there's still meaningful product available, but you're choosing from a narrower pool than a permanent resident or citizen.

How does FIRB approval actually work for a Gold Coast purchase?

Foreign Investment Review Board applications for residential property are lodged through the ATO, not through FIRB directly. Every residential land purchase by a foreign person requires approval, regardless of the purchase price. There's no dollar threshold that exempts you from the process the way commercial property thresholds sometimes work.

Approval is valid for 12 months from the date of issue. If your purchase doesn't complete within that window, you'll need to reapply. Applications are assessed against conditions set by the Treasurer, and most standard residential new-build approvals are granted with conditions requiring the property to be occupied or made available for rent while vacant.

FIRB approval does not remove your obligation to register on the Register of Foreign Ownership within 30 days of the purchase date. Annual vacancy reporting also applies, and vacancy fees apply where a property sits empty for more than 183 days in a vacancy year. The vacancy fee was doubled for some foreign-owned dwellings from 9 April 2024, which is a meaningful holding cost on an investment property.

What does FIRB approval cost for a Gold Coast property?

FIRB application fees are tiered by property value and are reindexed every 1 July, so any specific dollar figure in an article is likely to be out of date. The ATO publishes the current fee schedule, and that's the right place to confirm the exact amount before you apply. As a general shape, fees for residential new-build purchases up to $1,000,000 have been in the range of approximately $15,000 in recent years, with higher tiers applying above that.

The costs that stack on top of the FIRB fee in Queensland:

• › Queensland Additional Foreign Acquirer Duty (AFAD): 8% surcharge on the dutiable value of residential land, applied in addition to standard transfer duty. This is not a small number on a Gold Coast purchase.
• › Standard transfer duty: the general duty schedule applies to all purchasers. At $800,000, for example, the general duty alone is material before the 8% AFAD is added.
• › Land tax absentee surcharge: a 3% surcharge on taxable unimproved land value above $350,000 applies to absentee individuals and foreign companies or trusts. Assessed at midnight 30 June each year against total Queensland land holdings.
• › First home concession: not available to foreign purchasers subject to AFAD. The home concession for transfer duty requires Australian citizenship, permanent residency or being a specified foreign retiree from 1 August 2026.

Source: Queensland Revenue Office, verified 9 September 2026.

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What do foreign buyers need to qualify for lending on the Gold Coast, QLD?

FIRB approval and lending approval are separate processes, and getting one doesn't guarantee the other. Lenders assess foreign buyers differently from citizens and permanent residents, and the lending picture is narrower than many buyers expect.

Income assessment for overseas buyers

Foreign income is assessed at a discount by most lenders, typically somewhere between 60% and 80% of the gross overseas figure, depending on the currency, the country and the lender's policy. Currency risk is a real concern for lenders: an income that looks serviceable today can look very different if the exchange rate moves, so they build a buffer into the assessment. Some lenders simply don't lend to foreign income borrowers at all.

Deposit and LVR requirements

Foreign buyers typically need a larger deposit than a permanent resident would for the same property. Most lenders want at least 20% to 30% for a foreign income borrower, and lenders mortgage insurance is generally unavailable above 80% LVR for this borrower type. That means you're usually funding a meaningful deposit from overseas, which needs to be in an Australian account by settlement.

Visa and residency status

Permanent residents are treated almost identically to Australian citizens for lending purposes. Temporary residents face more restrictions, both from FIRB on what they can buy and from lenders on how much they'll lend. The structure of your visa, how long it has to run, and whether you have a pathway to permanency all factor into which lenders will consider the application.

When does a FIRB purchase on the Gold Coast not make sense?

The combined weight of FIRB application fees, the 8% Queensland duty surcharge, and a larger required deposit means the upfront cost of a foreign purchase is substantially higher than a comparable purchase by a permanent resident or citizen. On a $900,000 new apartment, the total upfront cost including duty and the AFAD surcharge can be a genuinely large number, before lending costs are added.

If your visa situation is likely to resolve to permanent residency within 12 to 18 months, it's worth modelling whether waiting and buying as a permanent resident materially changes the economics. The duty surcharge alone is 8% of the purchase price, and on a Gold Coast property that's a cost you don't recover quickly through capital growth. That calculation belongs with your accountant and adviser, not just a broker, but it's the right question to ask before committing.

Short-stay and investment-only purchases by foreign buyers also face the additional complication of vacancy fees and land tax surcharges if the property sits empty. If the purchase is intended as a pure investment and you're not planning to rent it out consistently, those ongoing costs can erode the return significantly.

How does a mortgage broker help foreign buyers on the Gold Coast, QLD, step by step?

The lender choice is the most consequential decision in a foreign buyer purchase, because only a subset of lenders will work with foreign income borrowers, their policies on LVR and income assessment differ considerably, and the wrong application leaves a mark on your credit file. Comparing across the panel before you apply is where most of the outcome is determined.

Step 1: Talk to us

We start by understanding your visa status, income structure and where the deposit is coming from, so we can tell you which lenders are realistic options before any application is lodged.

Step 2: Map your costs and borrowing position

We work through the FIRB fee, the Queensland duty surcharge and the deposit requirements together, so you know the full upfront number and how much you'll need to borrow before you find a property.

Step 3: Match you to the right lender and manage the application

We identify the lenders on our panel who work with your income type and visa, prepare the application, and manage the assessment process, including the foreign income documentation lenders typically require.

Step 4: Support through to settlement

We stay across the approval conditions, coordinate with your conveyancer on the FIRB approval timing, and make sure the finance side lands cleanly at settlement.

What approval challenges do foreign buyers face on the Gold Coast?

Where the process gets complicated:

• › Narrow lender panel: most major banks have significantly tightened or stepped back from foreign income lending. The realistic panel is smaller than for a standard purchase, which is why lender selection matters more here than almost anywhere else.
• › CGT on sale: foreign and temporary residents are generally not entitled to the 50% CGT discount that applies to Australian residents holding an asset more than 12 months. The main residence exemption is also generally unavailable. The tax position on eventual sale is different from a citizen's and belongs in a conversation with a tax adviser before purchase, not after.
• › Off-the-plan valuation risk: foreign buyers are largely confined to new builds and off-the-plan purchases. If the market softens between contract and completion, the bank values the property at completion, not at the contract price, and you cover any shortfall in cash.
• › FIRB timing and contract conditions: most sellers and developers will include a FIRB approval condition in the contract, and approval takes time. Lodging the FIRB application promptly and coordinating its timeline with the finance approval and settlement date is where things go wrong if it's not managed carefully.

Frequently Asked Questions

Can a foreign person buy an established home on the Gold Coast right now?

No. The established-dwelling ban prohibits foreign persons from purchasing existing homes from 1 April 2025 to 30 June 2029. New dwellings and vacant residential land are still available with FIRB approval.

Are permanent residents affected by the FIRB established-home ban?

No. Permanent residents are not foreign persons for the purposes of the ban and can purchase established dwellings without FIRB approval, in the same way as Australian citizens.

Does a New Zealand citizen need FIRB approval to buy on the Gold Coast?

Generally not. New Zealand citizens holding a Special Category Visa (subclass 444) are exempt from the established-dwelling ban and from most FIRB residential requirements, though confirming your exact position with a migration adviser is worth doing.

How long does FIRB approval take for a Gold Coast property purchase?

Standard residential new-build applications are typically assessed within 30 days, though complex cases take longer. FIRB approval is valid for 12 months, so applying early in the purchase process gives you room to move.

Does getting FIRB approval mean I'll get finance approved too?

No. FIRB approval and lending approval are completely separate processes. FIRB approval confirms the purchase is permissible under foreign investment rules. Lenders then make their own decision based on your income, deposit, visa type and the property.

Should a foreign buyer use a mortgage broker or go direct to a bank?

A mortgage broker, every time. The lender panel for foreign income borrowers is narrow, policies differ considerably between those who do lend and those who don't, and applying to the wrong lender leaves an enquiry on your credit file. A broker who works with foreign buyers regularly knows which lenders are realistic for your situation before any application goes in.

Your Next Steps

A FIRB purchase on the Gold Coast involves more moving parts than a standard transaction, and the combination of the established-home ban, the Queensland duty surcharge and the narrower lending panel means the right preparation makes a significant difference to both your costs and your approval chances.

If buying on the Gold Coast as a foreign buyer is on your horizon, the next step is simple. Get in touch with the Serres Property Finance team or call 1800 040 030. We'll work through where you stand across our 70+ lender panel.

About the author Lee Tsiboukas Senior Mortgage Broker, Serres Property Finance Lee Tsiboukas is the senior mortgage broker behind Serres Property Finance and has spent more than fifteen years running a private property investment trust across a diverse portfolio. He started Serres after seeing how much harder lending had become for complex borrowers - the self-employed, investors and first home buyers - once the GFC and the Banking Royal Commission tightened the banks' doors. His own family are long-term property owners and investors, so he understands the position clients are in whether they are buying a first home, building toward retirement or funding a development. Meet Lee → LinkedIn

Serres Property Finance · Gold Coast, QLD · Serres Finance Pty Ltd (ABN 34 668 150 758), authorised under Australian Credit Licence 486112 · General information only - this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions.