Government initiates a farmland privatization programme open to domestic citizens only
02 Nov 2015
The Government has started auctioning state-owned farmland as part of its plan to privatize around two-thirds (378,000ha) of the agricultural land that is currently publicly owned with the expectation to collect up to US$1.06 billion in proceeds by mid-2016. The privatization process will place similar restrictions on potential buyers to those currently limiting land ownership in Hungary. In particular, buyers must be Hungarian citizens who have lived, for at least the past three years, within 20km of the land offered for sale; they must have farming experience or formal farming education, and they would not be authorized to resell land bought in the privatization process for a period of 20 years.
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Type:
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Entry and establishment (Access to land)
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Industry:
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Primary (Agriculture, forestry and fishing)
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Sources:
