Government to maintain national competence over farm land, minister says

The government submitted the bill on land legislation to Parliament on July 12. Hungary is prepared for the expiry of a moratorium on land purchases by foreigners due in 2014, and will withstand any aggressive land purchase wave, Mr Fazekas said. The bill before Parliament will continue to prohibit legal entities from acquiring land and there will be measures built in the system to indirectly prevent those not eligible from buying land in Hungary, he said. The bill states that its aim is to protect Hungarian farm land, to prevent its acquisition by either domestic or foreign speculators, and to promote the ownership of local farmers cultivating the land. Only individuals may acquire arable land, after approval from the respective authorities under the bill.

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