Californians, Chinese Scooping Up Farmland in Washington State
https://www.nbcnews.com/business/real-estate/californians-chinese-scooping-farmland-washington-state-n401841
July 31, 2015
Chinese buyers move in
Some buyers are farm owner-operators, while others are looking to operate some land and rent out a portion of it to others, according to experts.
Other buyers in Washington are from China. Those individuals are said to be looking primarily at investment property that they can lease out. Some, however, are looking to move their families to the United States. Chinese buyers are also showing interest in farmland in South America, Australia and New Zealand.
The Washington State Department of Natural Resources reports seeing more interest from out-of-state entities looking to lease state-owned ag lands. The state offers irrigated leases that have typically been used for growing corn, wheat, barley, alfalfa, hay, potatoes, beans and other crops.
Washington leases or permits the use of about 1.1 million acres of land to farmers and ranchers for agricultural and grazing production, according to Sandra Kaiser, a spokesperson for the state Department of Natural Resources. The state is seeing "some interest from California with producers who lease from us, but not from folks who want to farm themselves."
One property recently for lease in Washington was a vineyard that attracted interest from a Chinese investor, according to a person familiar with the property. Besides irrigated land, the investors from China are looking for range ground and timber properties.