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The short answer
As a temporary resident you can still apply for approval to buy a new dwelling or vacant land, but you cannot buy an established home, even to live in, while the ban runs from 1 April 2025 to 30 June 2029, unless a limited exception applies. The application fee for 2026-27 starts at $4,600 for new dwellings or land under $75,000 and is $15,600 in the band up to $1 million.
Many Nigerians on skilled, graduate or partner visas would rather pay a mortgage than rent while they wait for permanent residence. Australia allows that in some cases, but foreign investment rules decide what you can buy and at what cost, and lenders add their own conditions. This guide sets out the rules as the ATO, which administers residential foreign investment, publishes them for 2026-27. It is information, not advice; confirm your own position before you sign anything.
Are you a "foreign person"?
The rules apply to foreign persons, and the ATO's pages expressly cover temporary residents buying a home to live in. Whether you count as a foreign person depends on your status and where you live; the ATO publishes its own test for working it out. Use it if your situation is not simple: for example, if your permanent residence is about to be granted, or you are buying with a partner who is a citizen.
What a temporary resident can and cannot buy
| Property type | Position for temporary residents (ATO, updated 13 May 2026) |
|---|---|
| Established dwelling (an existing house or unit) | Banned from 1 April 2025 to 30 June 2029, including buying one as your principal place of residence; limited exceptions apply. The ban was previously due to end on 31 March 2027. |
| New or near-new dwelling | You can apply for approval |
| Vacant land | You can apply for approval |
For most temporary residents, then, the practical choice before June 2029 is a newly built home, an off-the-plan apartment, or land to build on. The ATO does not list the exceptions to the ban on the page we checked; if you think one applies to you, read the ATO's application pages or get advice before committing.
FIRB application fees for 2026-27
Fees are set by the value of the property and indexed every 1 July. The ATO's schedule for 1 July 2026 to 30 June 2027 includes:
| Property value | New or near-new dwelling, or vacant land | Established dwelling (where an exception applies) |
|---|---|---|
| Less than $75,000 | $4,600 | $13,800 |
| $1 million or less | $15,600 | $46,800 |
| $2 million or less | $31,300 | $93,900 |
| $5 million or less | $125,200 | $375,600 |
Higher bands are on the ATO page. If you buy as tenants in common, each buyer pays a share of the fee in line with their ownership percentage. A simple variation to an approval costs $4,600 and a complex one $31,300, capped at the amount originally paid if that was lower.
The vacancy fee
Foreign owners must lodge an annual vacancy fee return. A vacancy fee applies if the property is vacant for 183 days or more in a vacancy year, or if the return is lodged late. For vacancy years starting on or after 9 April 2024 the fee is double the foreign investment application fee. If you are posted interstate or return to Nigeria for a long stretch and leave the home empty, this can be expensive.
Worked example
Example only. Ada is on a temporary skilled visa and agrees to buy a new two-bedroom apartment for $800,000. Under the 2026-27 schedule her application fee is $15,600, because the price falls in the band up to $1 million. If she later took a long contract in Lagos and the apartment sat empty for more than 183 days in a vacancy year, the vacancy fee would be double the application fee: $31,200. State stamp duty and any other state charges, legal costs and lender fees are on top and are not covered here.
What lenders look at on a temporary visa
Approval to buy is one question; a loan is another. Lenders set their own policies for temporary residents, and these vary widely. Expect questions on:
- your visa subclass and the time left on it, and whether you have applied for permanent residence;
- the size of your deposit, which lenders often want larger from temporary residents;
- income evidence: payslips, employment contract, and Australian bank statements;
- your Australian credit file, which may be thin; see building credit history as a new migrant;
- where the deposit came from, including any savings brought from Nigeria, with records of the transfers.
Ask a lender or broker whether they lend on your visa before applying, and whether they need FIRB approval in place before a formal approval. Many buyers make the purchase contract subject to FIRB approval and finance.
Steps in order
- Confirm you are a foreign person under the ATO test and that the property is new, near-new or vacant land.
- Talk to a lender about your visa and deposit.
- Make any contract subject to FIRB approval and finance.
- Apply to the ATO and pay the fee for your price band.
- After settlement, diarise the annual vacancy fee return.
If you are also weighing property back home, compare with our guides to buying off-plan in Abuja from Australia and checks before buying land in Lagos.
Where Pryme fits
If part of your deposit is naira savings, a multicurrency account lets you hold it and convert with Swap when you choose, with the rate and the fee shown before you approve, and the transaction record kept for your lender.
Questions people ask
Can a temporary resident buy an established house in Australia?
Not while the ban runs. The ATO says foreign persons, including temporary residents buying a home to live in, are banned from buying established dwellings from 1 April 2025 to 30 June 2029, unless a limited exception applies.
How much is the FIRB fee for a $700,000 new apartment?
Under the ATO schedule for 1 July 2026 to 30 June 2027, a new or near-new dwelling in the band up to $1 million attracts a $15,600 application fee. Fees are indexed every 1 July.
Do I need FIRB approval once I get PR?
Your status changes the answer, so check it rather than assume. The ATO publishes a test for working out whether you are a foreign person; apply it on the date you plan to sign the contract.
What is the vacancy fee?
An annual fee for foreign owners whose property is vacant 183 days or more in a vacancy year, or who lodge the return late. For vacancy years from 9 April 2024 it is double the application fee.
Sources
- ATO: Types of property a foreign person can buy (updated 13 May 2026) · accessed Oct 2026
- ATO: Residential fees for a foreign person, 1 Jul 2026 to 30 Jun 2027 (updated 1 Jul 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.