Farms of foreign owners control more than 6 percent of the total Czech farmland area of 3.6 million hectares, weekly Euro says in its latest issue to be published on Monday, referring to data of the Czech Statistical Office
In the Czech Republic, agricultural land is also being snapped up. Whereas buyers used to be mainly Dutch and German farmers, now Western investment companies are also getting in on the act.
The largest fund to invest in European farmland will be launched today, signalling investors' growing appetite for alternative ways to profit from a long-term rise in agricultural commodity demand and prices. The farmland fund, set up by Germany-based Palmer Capital Partners and UK-based Bidwells, is expected to raise about €300m ($425m) to buy arable land in Poland, Hungary, Romania and the Czech Republic. It will also invest in western Europe.
The Czech government has recently backed proposed legislation that should make it easier for foreigners from EU countries to buy Czech farmland.
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