Hungary seeks extension to foreigners land ban
(BUDAPEST) - Hungary said on Friday that it will ask the European Union to an extend a ban on foreigners buying farmland in the country for three years.
"The aim of the request is to protect Hungarian land and farmers from speculation", government spokesman Domokos Szollar said in a statement announcing the move.
The ban started when Hungary joined the EU in 2004 as land prices are a fraction of levels in Western Europe. The current ban expires on April 30, 2011.
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