The build-to-rent land tax concessions are two years old now, land tax cut in half, foreign surcharge exemption for up to twenty years, for eligible projects. I wrote back in 2023 that I'd check in on this properly once enough time had passed to judge it honestly.
Too early still for completed supply data, most BTR projects take years from land assembly to first tenant. But the capital commitment side looks real. More institutional players, including offshore ones drawn specifically by the surcharge exemption, have publicly committed to Brisbane sites since the concession landed.
Whether that capital translates into occupied apartments on the timeline the state government hoped for is still an open question. But the incentive is clearly doing what it was designed to do at the capital-attraction stage, which is the first and easiest test to pass.