Can foreign nationals buy real estate in...

House prices in Sydney have gone through the roof. Photo / Getty Images

Australia

Yes. But only new dwellings. Not homes which have previously been occupied. With house prices in Sydney and Melbourne going through the roof, the Abbot Government is cracking down on foreign nationals who breach the rules. Much stiffer penalties of up to $140,000 or three years' imprisonment are on the way. Furthermore, would-be homeowners of foreign extraction will have to pay a minimum $5500 application fee before getting approval for their purchase from Australia's overseas investment authority.

China

Land? No. Properties? Yes. The state issues land-use rights to housing and apartment developers. Foreigners can buy such properties, but must have lived or studied in China for at least 12 months.

United States

Yes, but ... There are no restrictions on foreigners entering the American real estate market. But there are plenty of warnings about getting in too deep. There are potential tax liabilities, while condominiums, apartment complexes and gated communities may have stipulations which do not suit overseas-based investors, such as a ban on absentee owners.

United Kingdom

Yes. No restrictions bar the size of your bank balance. Ignoring Hong Kong and Monaco - which have no room for expansion - London is the world's most expensive city when it comes to square metres to the dollar.

Money is the only restriction to property investment in Singapore. Photo / Getty Images

Singapore

Yes. But foreign property buyers are now subject to an additional stamp duty of 15 per cent of the purchase price of the property - a step taken to cool the island state's overheating property market.

Japan

Yes. No restrictions, but buyers get hit by a real estate acquisition tax soon after purchase.