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April 23, 2021
BUSINESS

Cheap farming land, very popular with foreign investors

Last year, the number of farming land-purchases by foreigners rose by a quarter, as, without the money to work it, Romanian farmers prefer to sell the land to foreign investors, at low prices, “Evenimentul Zilei” reports. According to our country’s EU Joining Agreement, signed in 2005, Romania has the right to limit the acquisition of farming and wood lands until 2014. As a consequence, the loop found by foreign investors is associating with Romanian natural or legal persons, to act as mediators in these purchases. The most popular types of land are farming land and forests. The highest number of foreigners keen to purchase such estates in Romania are Austrian and Italian citizens, as well as investment funds from these countries, according to Florin Ciubota, manager of the In Land Store agency, a real-estate company specialised in such transactions. Buzau County is one of the most sought-after regions in farming land purchases, alongside counties Ialomita, Calarasi, Braila and Prahova. As far as prices are concerned, in Braila County, for instance, in Visani, a hectare of farming land will cost approximately EUR 2,100. The price becomes negotiable when the buyer is interested in purchasing a larger surface.

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