MercoPress. South Atlantic News Agency

Uruguayan productive lands changing hands rapidly

Between January and August, foreign capitals mostly from the United States, Japan, Brazil, and Argentina bought 135,888 hectares

Uruguayan productive lands were said this week in Montevideo to be changing hands at a faster pace in the first six months of 2024 as the number of hectares traded doubled year-on-year according to the Agriculture and Livestock Ministry's (MGAP) “Price of land” report.

The document mentioned that 183,000 hectares were traded for a total amount of US$ 718 million, which represented an average price of US$ 3,910 per hectare.

Rice-livestock fields accounted for 32% of the transactions followed by livestock-forestry's 30%. In addition, when comparing the first quarter of 2024 with the second, there was a 49% increase in the number of operations, from almost 72,000 to 112,000 hectares.

Between January and August, foreign capitals mostly from the United States, Japan, Brazil, and Argentina bought 135,888 hectares in Uruguay, according to the outlet Búsqueda citing data from the National Colonization Institute and land market operators.

The departments (provinces) of Treinta y Tres, Cerro Largo, and Rivera accounted for 47% of the transactions at prices averaging US$ 3,161, US$ 3,812, and US$ 3,313 per hectare respectively.

However, departments with a higher productive capacity such as Soriano, Colonia, and Canelones reached average prices per hectare of US$ 8,355, US$ 7,016, and US$ 6,716, respectively.

The lowest prices were found in Artigas: US$ 2,267 per hectare on average.

In addition, 71% of the transactions involved properties between 10 and 100 hectares, it was also explained.