Agricultural land prices soar in Brazil
Date added: 21st May, 2008 at 10:51
(view all articles from May, 2008)
New figures have shown that the price of land in Brazil for sale has increased significantly in recent years.
According to the AFP news agency, the local subsidiary of Agra Informa, AgraFNP, reported that average price for a hectare of agricultural land in Brazil for sale has risen more than 16 per cent over the past year to 4,135 reals (£1,250).
It added that people who had made land investment in Brazil in 2005 would have seen a 35 per cent increase in their assets.
The report said that rising demand for food and biofuel was responsible to the jump in land prices.
According to the AFP, one analyst told the local O Globo newspaper that Brazil was particularly attractive to investors because it possessed nearly 100 million hectares of arable land, much of which is incredibly fertile.
The report also noted that foreigners have been keen to invest in Brazil and that non-domestic companies already own 5.5 million hectares in the country.
Recently, a report showed that firms from EU countries invested more money in Brazil last year than they did in China.