The purchase of agricultural land that allows cultivation and agricultural and livestock production has skyrocketed. Foreign investment in agribusiness could become one of the biggest businesses of 2023
Foreigners – namely North American, German, Australian and Brazilian citizens are investing in Portugal in a non-traditional market: agribusiness. In practice, they acquire land on which they can develop agricultural and livestock activities, giving a new impetus to the agriculture sector.
According to the CBRE consultancy, this involves around 300 million euros of foreign investment in agribusiness, with buyers opting for land mainly in the North and Alentejo.
The profile of these new farmers has changed: they are people interested in producing almonds and other dry fruits, in addition to olive groves, combined with new technologies. Consequently, the most sought-after lands are those that allow the cultivation of different products. “There were around 300 million euros of closed operations in agribusiness in 2023”, commented the CEO of the consultancy in Portugal, Francisco Horta e Costa, during the Real State Market Outlook 2023 event that took place in Lisbon, in early February.
If, on the one hand, Portugal has interesting qualities that capture the interest of foreign investors, namely access to water resources, on the other hand, and despite the size of the country, there is a market for this business, namely in the Alentejo (and the Costa Alentejana), in the Algarve and in places like Fundão, Castelo Branco and Idanha a Nova. CBRE believes that agribusiness could become one of the top businesses in the ranking in 2023.
