Minister of Agriculture to investigate purchases of farms Skip to content

Minister of Agriculture to investigate purchases of farms

By Iceland Review

According to the Icelandic National Broadcasting Service, RÚV, Gudni Ágústsson, Minister of Agriculture and deputy-chairman of the Progressive Party, is investigating the purchases of Icelandic farms by “rich people”. He says he has “not excluded” passing new legislation should the “serial purchases of farms by rich people threaten farming.” The Association of Farmers and the Minister are discussing whether or not traditional farming is under threat and if measures need to be taken because of “the excesses of the rich.” An average farm is now said to be worth about ISK 100 million.

According to RÚV, Gudni expressed his concerns about this issue to the Farmers Magazine (Baendabladid) saying, among other things, that “free trade had started damaging important values.” Laws requiring permanent residence on farms had not been effective because local authorities had not enforced them.

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