Property prices in Victoria

[christan]

I was told by a contact that the property prices in Melbourne have risen tremendously. I wonder if there are any particular restrictions against foreigners investing in the property there?

[christan]

Does anyone have any contact to a real estate agent in Melbourne?

[JamesGG]

Hiya,

There can be some restrictions for foreigners. Check with the Foreign Investment Review Board, maybe...?

From memory (you are testing me, though), non-residents can only invest in brand new property, and may need permission from the board first.

See here (http://www.firb.gov.au/content/faq.asp) for more info.

Melbourne is a big place, lots of agents here. Is there a particular area that you are looking in...?

Cheers

James.