Vacant Land

Proposed acquisitions of vacant land for residential development are normally approved subject to development condition(s) imposed under the FATA.

Acquisitions of single blocks of vacant land (that is, land which is zoned to permit the construction of no more than one residential dwelling per block of land) for the purpose of building a single residential dwelling on each block are normally approved subject to the following condition:

• continuous substantial construction must commence within 24 months.

Acquisitions of other vacant land (not single blocks) for the purpose of building multiple residential dwellings are normally approved subject to the following conditions:

• continuous substantial construction must commence within 24 months; and
• at least 50 per cent of the acquisition cost or the current market value of the land (whichever is higher) must be spent on development. 

Once these conditions have been fulfilled, properties acquired under this category may be rented out, sold to Australian interests or other eligible purchasers, or retained for the foreign investor's own use.

Who is exempt?

Refer to Exemptions for acquisitions which do not require notification and approval.

How to Apply

For information on how to apply (including application forms), please see How to Apply.