The Foreign Investment Review Board treats student visa holders as temporary residents. This classification determines what property you can buy and what conditions apply to your purchase. Getting this right from the start prevents costly mistakes and potential penalties.
What Property Can Students Purchase?
International students can generally purchase new dwellings, off-the-plan apartments, or vacant land for development. Established properties (existing homes that have been previously occupied) are typically not available to student visa holders unless specific exemptions apply. The distinction between new and established property is critical. Buying the wrong type of property without proper approval can result in forced sale orders and significant financial penalties.
FIRB Application Requirements
Your FIRB application must include evidence of your valid student visa, proof of enrolment at an Australian educational institution, details of the property you intend to purchase, and the application fee. Processing times vary, but most applications receive a decision within 30 days. We recommend starting your FIRB application as soon as you identify a property, well before any contract deadlines.
Application Fees and Costs
FIRB charges government fees based on the property value. For residential land acquisitions under $1 million, the current fee is $15,100. Properties valued between $1 million and $2 million attract fees of $30,300. These fees are separate from our legal costs. When you hire a FIRB solicitor through our firm, you receive a fixed fee quote covering all our professional services. No hourly billing, no unexpected charges.
Conditions on Student Visa Property Purchases
FIRB approval for students comes with standard conditions. You must use the property as your residence during your studies. If you change visa categories or complete your course, you may need to apply for a new approval under your changed circumstances. Renting the property to others while you continue to live in Australia on your student visa may breach your approval conditions.
Parents Buying Property for Student Children
Many families prefer to have parents purchase property for their children studying in Australia. This arrangement is common and permissible, but parents must obtain their own FIRB approval as foreign investors. The same rules about new versus established property apply. We regularly assist overseas parents with FIRB applications for residential land acquisition in Sydney, Melbourne, Brisbane, Perth, and Adelaide.
What Happens When Your Visa Changes?
Students who transition to other visa categories, such as graduate visas or skilled worker visas, may need to reassess their FIRB status. Some visa holders qualify as temporary residents with different purchasing rights. Others may eventually become permanent residents or citizens, removing FIRB requirements entirely. We provide ongoing advice as your circumstances change.
