Land Reform Act South Africa.
In the recent state of the nation speech the President mentioned Land Reform legislation that the government were planning to bring in which would restrict foreigners buying land.
Initially everyone thought that this applied to both farm and residential land and there was a sharp intake of breath from all stakeholders.
3 days after the speech clarification came from the Rural Development Minister.
The new law applies to farm land only, not to residential land.
The new law will be processed through parliament and signed into law this year.
The government has moved to allay fears on foreign land ownership and wont do anything foolish when applying the law.
The law will restrict foreign nationals on owning farm land, they will however be able to lease for a min of 30 years.
The law will restrict South African Nationals to a max of 12,000 hectare limit.