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 Tough rules for foreign land buyers

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PosOnderwerp: Tough rules for foreign land buyers   Tue Aug 17, 2010 1:53 am


Johannesburg - The department of rural development and land reform said on Monday foreigners will in future not be able to own land without the consent of local communities, the SABC reported.

The department was in a process of developing a new land tenure system, spokesperson Mtobeli Mxotwa told the broadcaster.

He said the policy was also aimed to address problems facing the land distribution programme.

Mxotwa said a green paper to change the land tenure system had already been drafted and that it was on its way to cabinet for approval.

Foreigners' ownership of land was just one of the changes in it.

"Foreigners will be in future allowed to own land in conjunction with local people and also that on such land there should be production discipline," he said.

The policy also wanted to address the current imbalances where 83% of commercial land in the country was owned by white farmers and businesses while 13% was shared among blacks, coloureds and Indians.

http://www.fin24.com/PersonalFinance/Property/Tough-rules-for-foreign-land-buyers-20100816


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