Larger down payments
Global land grab
- Alberta limits non-residents to two plots of agricultural or recreational land not exceeding a total of 20 acres.
- Saskatchewan restricts sale of agricultural land to foreigners to 10 acres.
- Manitoba prevents non-residents from owning more than 40 acres of farmland and requires that they move to the province within two years of purchasing the land.
- Quebec doesn't allow non-residents to purchase farmland at all without permission from the Commission de protection du territoire agricole du Québec. A non-resident is anyone who has lived in the province for less than 366 days within the 24 months preceding a real estate transaction.
- Foreigners — regardless of whether they are temporary residents of Australia or live abroad — are prohibited from buying existing housing stock (homes that have been previously owned or occupied for more than 12 months) for investment purposes — i.e. as a rental or vacation property.
- The exception to the above rule is if a foreigner buys existing housing stock that they plan to demolish and redevelop. The property must be redeveloped within two years, and the redevelopment must increase the number of housing units. The property cannot be rented out prior to the redevelopment. The new property can be rented out, sold or used by the owner.
- Foreigners temporarily residing in Australia can apply to buy one piece of existing property to use as a residence provided they sell it when they leave Australia. This provision was meant to address complaints that Asian investors buying property for children studying in Australia were outbidding locals and holding onto property after their children left the country. These are some of the same complaints being raised currently in Canada.
- If foreigners buy vacant land for residential development, they have to build on it within two years and are allowed to rent out, use or sell the built properties.
- There is no limit to the amount of newly constructed real estate foreigners can own as long as the property has not been marketed exclusively to foreigners overseas. Such property can be used as an investment.
- The government assigns annual quotas to the country's cantons limiting the number of houses or flats that can be sold to foreigners who do not reside in Switzerland. Each sale must still be authorized by the canton in which the property is located, and the cantons can set their own additional restrictions. Many limit foreign property sales to tourist regions, for example, or allow foreigners to purchase only property that is already foreign-owned.
- Foreigners can buy only one property to be used as a holiday home or a secondary residence. They cannot purchase a property for the sole purpose of renting it out, although holiday homes can be rented out periodically on a short-term basis.
- Property owners need special authorization if the surface area of their real estate exceeds 1,000 square metres.
- In some cantons, foreigners are barred from selling their property for a certain number of years after purchasing it — generally between five and 10 years.
- If foreigners buy vacant land, they must build on it within a year.
- Foreigners who live in Switzerland do not need to get prior authorization to purchase real estate that will serve as their main residence and can rent out the property or use it as a holiday home if they move to another part of the country.
- One area that is exempt from restrictions on foreign ownership of property is the alpine ski resort town Andermatt, where luxury condominiums marketed to wealthy foreigners as vacation properties can sell for several million dollars.
- Foreign nationals from EU members states and some other European countries who want to buy property do not require the same type of prior authorization as other foreigners.
- Foreigners can own only one residential property for their own use (permanent residents are restricted to two properties).
- Foreigners must reside in the country for one year before they can buy property.
- Foreign companies who buy commercial real estate must use it themselves.