Argentine Government Withdraws Controversial Foreign Land Ownership Reforms

President Javier Milei's administration has withdrawn a proposed chapter of the Private Property Inviolability Law that sought to ease restrictions on foreign land ownership. The decision followed significant backlash from the public and a lack of support from legislative allies in the Senate. The proposed changes would have increased the limit of land foreign entities could own from 15 percent to 25 percent and removed prohibitions on sales in border zones and core areas. Senator Patricia Bullrich acknowledged the defeat after meetings with allied senators who indicated the government lacked the necessary votes for approval.

Different political perspectives have framed the event in contrasting ways. Center left sources describe the withdrawal as a result of pressure from allies and public protests, highlighting a defeat for the government's deregulatory agenda. Center right sources present the event as a stumble for the libertarian model and a potential catalyst for opposition unity, while also noting that the original 2011 restrictions were based on outdated fears of land grabbing. A center source characterized the event as a setback for Milei's efforts to attract private investment.

Amidst the legislative debate, Senator Juliana Di Tullio filed a challenge against fellow senator Joaquín Benegas Lynch. She alleged a conflict of interest because Benegas Lynch is a director of Glocal Terra, a company that advises foreign investors on purchasing land in Argentina. Di Tullio requested that he be recused from voting on the project, citing a collision between public interest and private economic gain.