Im sure you could buy grade 'A' ag land in Romania for around 500 Euro/hectare at the moment (stuff they were looking for 800 -1200 Euro/hectare a year or two ago).
An added advantage is that, since Romania is in the EU, you'd get 80Euro/hectare per year for doing nothing with it. There are also all sorts of subsidies and structural funds available to anyone wanting to develop a farming business.
I looked at doing this in very great detail 2 years ago. I still want to do it but given the recession I lost my job, started my own business and now all my spare cash is sucked into developing the new enterprise.
I even had an irish guy with huge experience convinced to come out and manage a dairy herd for me! How things change!
Hopefully I'll get around to it again in the next couple of years.
Good luck with your dream.