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Australian Residential Property Development for Investors by Ron Forlee

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CHAPTER 14 Residential land development

The benefit of developing vacant land lies in the potential to add value to it and the fact that it is a limited resource once built on. Vacant land can be subdivided or rezoned and the resulting portions of land can be sold for a higher price than the original purchase price and associated cost.

Buying raw land can be viewed from two perspectives: (a) as pure land speculation, known as land banking, or (b) to develop and sell. In the case of land speculation, the investor hopes to hold the land until there is a change in land use or a demand is created as a result of urban expansion. The land developer, on the other hand, plans to perform entrepreneurial activities on the land such as applying for a ...

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