Romania: in 2014 allowed foreigners to buy agricultural land

On 31 December 2013 the Romanian authorities will remove the restrictions for foreigners to acquire agricultural land in the country, according to an Internet resource Balkans.com , With reference to Mediafax. According to Romanian legislation, foreigners can acquire land, if they have a residence permit in the country or at registration of the legal entity in Romania. According to the Ministry of Agriculture, about 8.5% of the total number of the country's land is owned by foreign investors. In 2014, the authorities allowed the purchase of agricultural land to non-residents - individuals and legal entities. Currently, agricultural land in Romania are 3-7 times cheaper than in other European countries. In recent years, low price for such land of Romania attract more foreign investors. According to experts, the price of agricultural land in Romania, in the next three years will be an average of 3,000 euros per hectare. In 2011, the average price per hectare of agricultural land in Romania amounted to 1972 euro, in 2010 - 1700 euros in 2007 - 927 euros. HomesOverseas.ru