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Three years after the founding of the Latvian Land Fund, 1688 purchase applications and 338 properties were purchased on an area of 5853 hectares (ha) for a total of 16.03 million euros, 332 properties on a total area of 5768 hectares and 224 hectares informs the Ministry of Agriculture (ZM)
The Ministry of Agriculture states that in the development strategy of the Land Fund, it is planned to Acquire nearly 6,000 hectares of farmland by the end of 2019 for farm owners, including 1,000 ha of rental property sellers.
Director of the ZF – "Altum Development and Financial Institutions" "- the information provided show that this current goal of commercial activity could be reached by the end of 2018. According to the objectives new ones will be set up to facilitate the involvement of land in agricultural production.
Most properties are leased to Latvian farmers, more activity is observed in Zemgale and smaller in Latgale. 19659002] The demand for reverse leasing is higher than originally expected, and in the sale and leaseback transactions, the fund has already acquired 58 properties in 1078 ha for a total of of 3.6 million euros
"Since October 2017, we have changed the terms and offered nine months of rent and reverse redemption rights, the so-called reverse leasing service. reverse lease allows agr farmers to stabilize production and streamline their cash flow in the short term. Especially this is felt this year after the natural cataclysms. Agriculture Minister, Janis Dūklavs, said the Land Fund's goal was to promote land use for agricultural production by buying land from landowners, then selling it back or selling it. renting them. . Only land used for agricultural purposes is freely purchased from buyers at a price that does not exceed the average market price for equivalent land in the district concerned and in the parish. Last November, the fund started offering a reverse lease service
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