Foreign buyers stepping into the rural property or agribusiness sector will have to negotiate new regulatory hurdles aimed at preventing a rush of opportunistic offshore-based takeovers during the coronavirus emergency.
A company backed by one of South Africa’s richest men is setting itself up to be a major player in the Northern Territory’s beef sector after paying $70 million for two major cattle stations, Tanumbirini and Forrest Hill.
A Canadian pension fund has bought a huge parcel of Australian permanent water rights for $490M to irrigate almond trees, in a move that puts the spotlight on foreign ownership of farms and water resources as drought ravages the country.
Cross Pacific Investments, which is backed by the Buratovich family of Argentina, has now spent more than $43 million on top end Australian land in the last few months, totalling just over 540,000 hectares.
With very low interest rates having taken root across asset classes and investors abiding in their hunt for higher yields, the world’s largest manager of global farmland, Nuveen, says the season may be ripe for a strategic allocation to the $2.3 trillion market for U.S. farm real estate.