Brazilian Land Sales May See Ban For Overseas Investors

  • 14 years ago
  • Uncategorized
16/07/2010- Recent headlines concerning Brazilian land and potential ownership restrictions for overseas buyers will not affect main stream investors seeking residential or beachfront land in Brazil. The government is working on plans to protect agricultural land in order to keep food production under the control of Brazilians.  
 
The move may mean that international real estate investors interested in buying land in Brazil could face increased restrictions as the government attempts to protect its natural resources
 
Government spokeswoman Denise Mantovani has confirmed published remarks made by Brazilian minister Guilherme Cassel, who said that President Lula da Silva had asked ministers to tighten laws on foreign ownership of land.
Cassel claimed that the President’s concerns were due to a desire to keep food production under Brazilian control.
 
Demand for land plots in Brazil has increased significantly over the last decade. According to the Brazilian Agrarian Development industry, between 2002 and 2008 foreign nationals contributed $2.43 billion to land investment in Brazil.
 
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