Airlie Beach
Airlie Beach is an up-and-coming resort town in Australia’s Queensland and is best known for being the main jump off point for the thousands who travel to the region in order to tour the stunning Whitsunday islands on the Great Barrier Reef.
The town’s population has been growing rapidly alongside its international profile as a destination and now has some 25,000 residents. Airlie Beach is very much reliant on the tourism industry and caters for almost every kind of tourist and backpacker. Its success in this regard has seen it rapidly emerge as one of the most sought-after investment locations in the country.
Airlie Beach real estate guide
Airlie Beach, bordered by natural rainforest and with the implausibly beautiful Whitsunday Islands just off its coast, has been working hard to capitalise on its attributes by attracting both tourists and real estate investors. Once a basic seaside town, Airlie Beach has grown into an outward looking cosmopolitan international attraction with ample restaurants, retailers and entertainment options.
Although the Australian government’s foreign investment policy has been catered to encourage investment in the country, it is also keenly focused on ensuring that it will be of clear benefit to the Australian people. As such, buying real estate across the country means negotiating some comparatively restrictive legalities.
Generally speaking, all non-national property purchases will have to go through the Foreign Investment Review Board (FIRB) for approval, which generally takes around thirty days. There are no ‘general’ approvals available and all prospective real estate purchases will have to be specifically approved. However, there are some guidelines that should be taken into account before an application is made. First off, if the unit in question is being purchased by a foreign citizen or company purely for the purpose of renting it out or as an speculative investment then permission to purchase will be refused. Likewise, houses or condo units being looked at by non-nationals purely as a holiday home are unlikely to be approved.
There are however, exceptions. The Australian Treasurer can name a particular development as an Integrated Tourism Resort. In such cases, both residences and vacant land can be purchased within its confines by anybody regardless of nationality, residency status and without FIRB assessment. This scenario is becoming increasingly common in resort areas such as Airlie Beach. There are however conditions. They include the 50 hectares of land within well-defined boundaries, the incorporation of extensive recreational facilities, and a number of other stipulations.
The Whitsunday’s has achieved considerable coverage in the press in recent times due to the amount of money due to be invested in the area – in excess of US3 billion by some estimates.
Condos in Airlie Beach
Foreign ownership of apartments or townhouses in a proposed Australian development is less restrictive than single home or land ownership. They can generally be sold to foreign investors as long as the developer applies ahead of time this to be permitted. When foreigners buy such properties off plan, they can frequently be permitted to use, rent or sell on their unit upon completion without further restrictions. However, as is the case in countries such as Thailand, foreign buyers cannot hold more than half the apartments or townhouses in any one development. More on buying condos in Airlie Beach.
Houses and land in Airlie Beach
Airlie Beach land plots have been coming online with increasing frequency over recent years, and have tend to be snapped up shortly thereafter. One land plot project which has just released a second phase of home sites after the first phase sold out, is Airlie Summit on the hills overlooking Airlie Beach. More on buying houses and land in Airlie Beach.
Top tips for Airlie Beach property
Guide to buying condos in Airlie Beach
Guide to buying houses and land in Airlie Beach
