South American Real Estate News
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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…