New Romanian Law: Foreigners Will Find It Harder to Buy Agricultural Land in Romania

Romanian Parliament adopted, after deputies have voted modifications to the existing law, Law no. 17/2014, an important project initiated by the Social Democrats. The new law stipulates that the foreigners will find it harder to buy agricultural land in Romania. In fact, foreigners and foreign entities will purchase agricultural land in Romania only after the preemption right will be exercised by the Romanian co-owners, by the relatives of the seller, by the family or by the owners of the neighboring land.

Romania has more than 14 million ha of agricultural land, most of it privately owned, but only 9 million ha is arable land. According to last year’s data, almost 800 foreigners have agricultural lands in Romania, most of them from Italy, Germany and France.

Romania is known world wide for grain exports and billions of Euros enter each year in the country due to the production of grains. Still, 2020 is not a good year for agriculture, as the drought affected the crops to a large extent. Romania is said to produce 50% less than in 2019, and the grain exports would be affected as well.

The law was adopted after being voted on Wednesday, June 3. in the Chamber of Deputies.