János Lázár’s family buys $2.6 million of agricultural land at state auction

January 25, 2016

lazar

Family members of Minister in Charge of the Prime Minister’s Office János Lázár purchased 505 hectares of land recently as part of Hungary’s privatization of agricultural land. The purchases are estimated to be worth around HUF 753 million (USD 2.6 million).

Hungarian news site hvg.hu reports that Lázár’s family members walked away with substantial land holdings following the state’s decision to privatize formerly state-owned lands under cultivation.

  • Lázár’s father reportedly purchased a parcel for HUF 37.6 million;
  • Lázár’s uncle (his father’s business partner) purchased lands for HUF 180 million; and
  • Lázár’s cousin, Mária Gyapjas, and her partner, József Légrádi, reportedly purchased another 375 hectares.

According to Hungarian news site Blikk, Gyapjas and Légrádi purchased adjacent plots covering an area twice the size of Margit Island.

Lázár told the print daily that his family members “have been working in agriculture for decades and met all the criteria to participate in the open land auctions.” In some cases, Lázár said, they purchased the land for more than market value and will pay for it with bank loans.

As we reported earlier, the Hungarian government ordered state-owned banks to provide subsidized loans for those wishing to take part in the land auctions.