Buying a house in Australia does not directly grant you residency. However, property ownership can support your application for certain visa categories under specific circumstances. Here’s an overview of the relationship between property ownership and residency:

1. Property Ownership and Visa Eligibility

A. Investor Visas:

The most relevant visas for those considering property investment include:

1. Business Innovation and Investment (Provisional) Visa (Subclass 188):
   • Streams: There are several streams under this visa, but the Investor Stream and Significant Investor Stream are the most relevant for property investors.
   • Investor Stream: Requires a minimum investment of AUD 1.5 million in an Australian state or territory and a commitment to maintaining business and investment activity in Australia.
   • Significant Investor Stream: Requires a minimum investment of AUD 5 million in complying investments, which can include property development projects but not direct residential property investment.
2. Business Innovation and Investment (Permanent) Visa (Subclass 888):
   • This visa is for holders of the Subclass 188 visa who want to continue their business and investment activities in Australia permanently.

B. Other Relevant Visas:

1. Temporary Skill Shortage (TSS) Visa (Subclass 482):
   • While not directly related to property investment, holding a property can demonstrate your commitment to Australia and might support your application for employer-sponsored visas.
2. Partner Visas:
   • If you are in a genuine relationship with an Australian citizen or permanent resident, owning property together can support your partner visa application.

2. Requirements and Conditions

FIRB Approval:

As a non-resident, you will need Foreign Investment Review Board (FIRB) approval to purchase property in Australia. This includes paying an application fee.

Financial Requirements:

• Proof of Funds: You need to show that you have sufficient funds for the purchase and that you obtained them legally.
• Loan Eligibility: Some banks and lenders offer home loans to foreign investors, but with higher deposit requirements and possibly higher interest rates.

3. Property and Permanent Residency (PR) Pathways

Owning property in Australia can be a part of your broader strategy to obtain PR, but it is not a standalone pathway. Here's how property ownership can support your PR application:

1. Economic Contribution:
   • Demonstrating financial stability and investment in Australia can strengthen your case for certain skilled or business visas.
2. Establishing Ties:
   • Owning property can help establish a strong connection to Australia, which might be favorable in your visa application process.
3. Business and Investment Visas:
   • As mentioned, significant investments through the Subclass 188 visa streams can lead to permanent residency under Subclass 888.

Recommendations:

• Consult an Immigration Lawyer: Seek advice from an immigration lawyer to understand how property investment can fit into your overall strategy for obtaining residency.
• Research Visa Options: Explore the different visa options and identify the ones that align with your situation and goals.
• Plan Financially: Ensure you have a clear financial plan that includes the costs associated with purchasing property and any visa-related expenses.
• Consider Long-Term Goals: Think about your long-term plans in Australia and how property ownership aligns with your personal and professional objectives.

If you have more specific questions or need further assistance, feel free to ask!