The land acquisition moratorium remains for a further 3 years

The European Commission approved the purchase of land moratorium for Hungary on Monday. This means the extension of land moratorium for a further three years for  EU citizens who are non-resident in Hungary.

According to the communiqué; the Commission extended the transitional period on the basis of information provided by Hungary. Without this step, serious disruption would have been occurred on the agricultural land market if the foreign buyers would appear. The Commission also asked the government to fasten the completion of the ongoing agricultural reform – reports Népszabadság Online.