Expat Community > Colombia

Felipe58
Joined 2011
Posts: 467

Owning Agricultural Land in Colombia

11 months ago

I know this has been bandied about for some time, but this week Petro's Minister of Agriculture tried to clear up their intentions, here's one link:
https://www.infobae.com/colombia/2023/12/07/gobierno-petro-buscaria-la-compra-de-mas-de-500000-hectareas-de-tierra-para-2024/
The idea is to stop Foreigners buying up and owning vaste swathes of Agricultural land at the expense of Locals, also driving prices through the roof, so Locals don't get a look in.
The Government is going to have first option at buying Agricultural land, as they put it, at Market Price (that I doubt), this will then be made available to Locals.
She went to great lengths to state this will not affect those Foreigners already owning land here, (I can only hope that is correct!) only new land on the market. It will be interesting to see where they intend to get the money quoted for the initial purchases, considering their other commitments, such as Health.
I was talking to a Neighbour who is the Father of a Congressman, and the thinking seems to be that Petro won't last the next three years, clearing off with his nestegg, before life catches up with him.

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