While the credit crunch has affected demand for land in most parts of the world, Australia and Canada actually seem to be benefiting. The combination of relatively cheap land and a low-risk political and economic environment is attracting investors who might otherwise have considered South America or Eastern Europe. In the Canadian prairie provinces, average values rose 10% in 2008 to C$2,100 per hectare ($1,725), says fund manager Agcapita, while in Australia, productive cereal land rose 10% to A$4,950 per hectare ($3,450).

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