Argentina raises limit on foreign land purchases

BUENOS AIRES

Argentina's President Javier Milei delivers a speech during the Americas Society/Council of the Americas "Political and Economic Perspectives" conference in Buenos Aires on August 20, 2026. (AFP File Photo)

Argentina’s Supreme Court backed President Javier Milei and lifted restrictions on land purchases by foreigners, a controversial move intended to attract investment and opposed by unions and environmentalists.

Milei lifted the restrictions, which had capped foreign ownership at 15 percent of the national lands, immediately after taking office in 2023.

Opposition and environmental groups firmly opposed the move, and held protests over the summer, carrying banners that said “the homeland is not for sale.”

Constitutional lawyer Andres Gil Dominguez posted on X that decision means “any foreign individual or legal entity, or any foreign state, can buy any rural land it wishes — including in border areas — without any limit.”

Nearly five percent of Argentina’s territory — an area roughly equal in size to England — is under foreign ownership, according to a 2025 report from the University of Buenos Aires and other researchers.

But they note in some districts the percentage of foreign owners already exceeds the 15 percent limit, particularly in “territories endowed with water and mineral resources, or logistical advantages,” such as ports.