Can You Buy Property in Australia on a Visa 482?
“Can I buy a house on a visa 482?” is one of the most common questions among migrants in Australia. The short answer: you can buy, but you are limited in the type of property and you need FIRB approval.
What FIRB is and why it matters
FIRB — the Foreign Investment Review Board — is the Australian government body that oversees foreign investment, including the purchase of real estate by foreign persons and temporary residents.
A visa 482 holder is classified as a temporary resident — not an Australian citizen or permanent resident. This classification brings certain restrictions.
What property a temporary resident 482 holder can buy
A temporary resident (including a 482 holder) is permitted to buy:
New or under-construction dwellings (new dwelling / off-the-plan):
- New houses or units (not previously occupied) from a developer
- Off-the-plan purchases (bought from the design plans)
Vacant land for residential use:
- Condition: a dwelling must be built within 4 years
An established dwelling — ONLY to live in:
- You may buy one established dwelling as your principal place of residence
- You must sell it when you leave Australia or when you are no longer a temporary resident
- It cannot be used as a rental
What a temporary resident 482 holder CANNOT buy
- An established dwelling as a rental investment
- A holiday home that is not your principal residence
- Vacant land with no clear plan to build
The process of seeking FIRB approval
Before signing a contract to buy property, a temporary resident must apply for FIRB approval:
- Register at firb.gov.au
- Pay the application fee (calculated on the value of the property — from a few hundred to tens of thousands of AUD)
- Wait for approval (usually 30 business days)
Important: do not sign a contract before you have FIRB approval — a breach can lead to penalties and a forced sale of the property.
FIRB fees for a temporary resident
FIRB fees are calculated on the value of the property. This is a significant cost — check firb.gov.au for the current fee level, as it changes from year to year.
Getting a mortgage on a visa 482
A mortgage from an Australian bank while on a visa 482 may be possible, but the conditions are tighter than for a PR holder or citizen:
- A lower LVR (Loan-to-Value Ratio) is usually required — a larger deposit (often 20–30%)
- Some banks do not lend to temporary visa holders
- The interest rate may be higher due to the bank’s assessment of higher risk
- You may need to explain your visa term and your plans to stay in Australia
Practical advice
If you are on a visa 482 and want to buy a home to live in: it is entirely possible, but plan carefully. If the visa 482 ends without PR, you must sell the home — in a volatile property market, this is a risk worth weighing.
If you are on a pathway from 482 to PR, consider waiting until you have PR before buying — fewer constraints and better finance conditions.
Consult a mortgage broker and a conveyancer experienced with temporary residents before deciding.