The population
of Perth grows more diverse with each level of economic growth. In fact,
Perth saw the highest growth in immigration compared to other major cities in
Australia. Whilst Australians still make up the majority of property buyers,
British, New Zealanders, South Africans, and buyers of other nationalities all
want a piece of Perth, starting with real estate.
Foreign real estate buyers, though, need to undergo a
longer process than local buyers. The government must perform a check to make
sure that any purchase benefits the local community. The Foreign Investment
Review Board (FIRB) handles real estate transactions by foreign buyers, be it
for residential or commercial purposes.
