South American Real Estate News
/ Month / June

Unasur forecasts South America’s decade

  A new global order is emerging as a result of the world crisis and recession in developed countries and Latin America has a crucial role to play given its very satisfactory economic performance in recent years, said Unasur Secretary General Maria Emma Mejia. Meeting in Madrid for the tenth anniversary of the Spanish foreign affairs think-tank Royal Institute Elcano, Ms Mejia together with other world experts and politicians were invited to discuss the international crisis, the emergence of new powers…

San Rafael, in Mendoza Province, one of the top places in the world for retirement according to CNNMoney

San Rafael, in Mendoza Province, one of the top places in the world for retirement according to CNNMoney In addition to adventure, retirees often find dramatically lower real estate prices. That’s certainly the case in San Rafael, Argentina, a medium-size city in the heart of the nation’s wine country, where the cost of living is about three-fourths that of the U.S. average, according to the Associates for International Research. An hour and a half flight from Buenos Aires, San Rafael has plenty…

Brazil prepares new bill to allow farmland foreign ownership

According to a source at the Presidential Chief of Staff’s Office, Brazil’s government is preparing a bill that would once again allow foreigners to buy over 5,000 hectares (12,350 acres) of land subject to prior government approval. Congress must approve purchases of 500,000 hectares (1.2 million acres) or more. The ban – which took the form of a reinterpretation of a 1971 law – was a response to reports that Middle Eastern sovereign funds and Chinese state-owned companies were attempting to buy large…

Biggest South America Corporate Farm Groups

        With agricultural commodity prices at multi-year highs, buying farmland is seen as a more direct way to cash in on valuable crops and to take advantage of long-term appreciation of farm property. As a result, investors from around the world are pouring a lot of funds into agriculture this year to boost yields across the top producer nations as record high food prices jolt markets and send buyers scurrying for supplies. South America is today worldwide considered a top place to buy,…

Foreign Money Driving Uruguay’s Real Estate Boom

Espectador has a feature interview with former Uruguay Central Bank Director Juan Carlos Protasi regarding the status quo of Uruguay real estate and foreign investment. The current boom in Uruguay is due to new waves of foreign investment, says Protasi, and not because Uruguayan banks are loosening borrowing guidelines. “The good thing is that here in Uruguay there has been no intervention with the credit markets. If real estate prices fall a little bit, there won’t be an impact on bank portfolios. It’s…

China’s largest farming company and Argentina’s Cresud SA linked a joint venture to buy South American farmland

China’s largest farming company, Heilongjiang Beidahuang Nongken Group, inked a joint venture with Argentina’s Cresud SA to buy land and farm soybeans. Cresud is one of Argentina’s top agriculture firms with control over more than 1 million hectares (2.47 million acres) of farmland that produce grain, cattle and milk. Heilongjiang Beidahuang’s chairman, Sui Fengfu, told Dow Jones Newswires in March that the company plans to buy 200,000 hectares of overseas farmland this year, and that…

The South American agricultural landscape

June 2011 | by Simon Adamson       An arable crop of over a quarter of a billion tonnes is hard to imagine, but that’s what Argentina and Brazil are harvesting right now. Favorable weather, yields and prices have made many South American farmers winners again this season, but it also means shifting goalposts for agribusiness. Prices for arable land have jumped; in Uruguay they’ve risen 800% in the past decade. Soybean rules the landscape; it’s the crop of choice wherever it can be grown…

Argentina attracted 40% of all Chinese investments in the South Americanregion in past 12 months

MercoPress Argentina attracted 40% of all Chinese investments in the region in the last twelve months (June 2010/May 2011) and prospects remain “optimistic” reveals a report from Deloitte. Argentina attracted 15.6 billion US dollars, up 286% over the previous twelve months, which were concentrated mainly in energy and natural resources: 14bn USD equivalent to 71% of the total amount. In the last twelve months eight major operations involving Chinese investments in Latin America were reported, mostly by…

Brazil´s Hotel Industry adopts new star rating system to become more competitive internationally

The Brazil hotel market is booming in the build up to the 2014 FIFA World Cup and the 2016 Olympic Games. But what the country has boasted in momentum it’s also lacked in transparency—until now. The country has launched the Brazilian System for the Qualification of Accommodation Options, a rating system that classifies hotels from one to five stars. To use the symbol, hotels must endure a qualification process from the Ministry of Tourism. In June 7th, the Minister of Tourism, Pedro Novais, signed off the…

Brazil registers the first legal actions against foreign farmland acquisition ban

The change in the rules for farmland acquisition by foreigners is causing a commotion in Brazil agriculture industry. Vendors and buyers in rural areas are starting to litigate to see who will pay for the restriction prejudices derived from a new inter pretation of law by the Union´s Attorney-General (AGU).   The ban – which took the form of a reinterpretation of a 1971 law – was a response to reports that Middle Eastern sovereign funds and Chinese state-owned companies were attempting to buy large…

Alternative energy is getting as cheap as conventional grid power

By James McKeigue   America has been here before: in the 1970s, wars and revolution in the Middle East pushed up the oil price and derailed the US economy. Since then, solar and wind energy have struggled to compete on price with fossil fuels. But that looks set to change as they finally achieve ‘grid parity’ – the moment when alternative energy is as cheap as conventional grid power. Solar has already achieved this in sunny islands such as Hawaii, while wind does the same in windy places…

Uruguay sees China as a leading trade and investment partner of all Mercosur countries

Uruguay has kept good relations with Beijing since the two countries forged diplomatic ties in 1988, said Uruguayan Foreign Affairs minister Luis Almagro, a former ambassador to China from 2007-2009. Almagro made the statement as Chinese Vice-President Xi Jinping begun his official visit to Uruguay. The Uruguayan official revealed that the administration of President Jose Mujica would support an initiative for the regional Mercosur customs union to reach a trade agreement with China, “although complicated…

Uruguay discussing new taxation on land holdings

President Jose Mujica last Monday during the cabinet meeting presented a fiscal proposal, elaborated with the head of the Planning Office which considers three main brackets: over 2.000 hectares, 8 US dollars per hectare; over 5.000 hectares, 12 USD per hectare and over 10.000 hectares, 16 USD. However Vice-president Danilo Astori, Economy Minister Fernando Lorenzo, Agriculture minister Tabare Aguerre and Public Works and Transport minister Enrique Pintado are proposing a tax linked to the production and profitability…

Top 10 hedge funds business horizons

  The top 10 hedge funds made $28bn for clients in the second half of last year, $2bn more than the net profits of Goldman Sachs, JPMorgan, Citigroup, Morgan Stanley, Barclays and HSBC combined, according to new data.   Even the biggest of the hedge funds have only a few hundred employees, while the six banks employ 1m between them. According to the data, the top 10 funds have earned a total of $182bn for investors since they were founded, with George Soros making $35bn for clients – after all fees…

Argentine group El Tejar became the biggest soy farmer in Mato Grosso´s region

Argentina-based Ag company El Tejar harvested approximately 680,000 metric tons (25 million bushels) of soybeans in Mato Grosso -Brazil’s main producing state- during the 2010-11 season, ending the decade-long reign of Erai Maggi, whose Bom Futuro group produced 576,000 tons (21 million bushels), according to data compiled by the Mato Grosso Soybean and Corn Producers Association (APROSOJA). El Tejar has operated in Brazil since 2003, largely adopting the Argentine model of renting land. The company has…