frankly, whether farmland is still affordable in rural saskatchewan is an issue that people have been talking about for years now. certainly, it’s a big reason why the number of farms in saskatchewan has declined 82 per cent to 24,523, compared to a peak of 138,713 in 1941.
everyone knows big money is behind bigger and bigger farms. however, what no one knows — including the auditor and the farmland security board — is how much farmland prices are being driven up by foreign interests.
“having foreign entities buying saskatchewan farmland does increase the risk that we don’t have saskatchewan and canadian residents that own that farmland, and it could be making prices higher than they should be,” clemett told reporters tuesday morning during the release of volume 2 of her 2024 report.
her report noted the farmland security board did not request proof of residency for purchases made by out-of-province corporations in nine of 18 purchases, and further noted 140 exemptions were granted in the last five years, many to european companies.
maybe that doesn’t seem horrific, given that there are 40,000 land transactions annually. and the provincial auditor admits she “can’t say the extent” of the problem.