Supreme Court invalidates limits on land sales to foreigners

The Supreme Court of Argentina overturned a ruling that limited land sales to foreigners, allowing the continuation of Decree No. 70/2023 from the government of Javier Milei. This decree had repealed the law regulating the buying and selling of land, known as the Land Law.

The highest court revoked a ruling from the Federal Justice of La Plata, which had declared one article of the mentioned decree unconstitutional. In its decision, the Court did not rule on the overall validity of the decree but dismissed the claim filed by the Center of Ex-Combatants of the Malvinas Islands of La Plata (CECIM), considering they were not authorized to initiate such a lawsuit.

Reactions to this decision have been mixed. Several opposition deputies criticized the ruling, calling it shameful and reaffirming their position on the unconstitutionality of the decree. Meanwhile, Elisa Carrió, founder of the Civic Coalition, urged the Chamber of Deputies to reject the decree, arguing that it undermines national sovereignty.

From the government, Milei, who is currently in Paris, refrained from making detailed comments on the ruling. However, officials at Casa Rosada acknowledged that this ruling could reopen a debate that has left the ruling party in a difficult position.

The opposition is considering calling a special session in Congress to attempt to declare Milei's emergency decree unconstitutional, with the possibility of bringing the matter to a vote in the coming weeks. Securing a majority of those present in the Chamber of Deputies is part of the strategy for lawmakers from the PJ and other political groups.

Constitutional law experts have indicated that the best solution to this tension between powers would be a legislative decision, involving either the repeal of the decree or the creation of a new law to regulate land sales to foreigners, although real estate operators believe that obstacles remain to attract foreign capital.