Agricultural land prices – huge variation across EU

There is a huge variation in agricultural land prices across the European Union (EU), according to Eurostat, the statistical office of the EU.

Among EU member states, the Netherlands recorded the highest purchase price for one hectare of arable land in the EU – an average of €69,632/ha in 2019.

In Ireland, that figure is just over €25,000/ha.

The price of arable land in every region of the Netherlands was above all other available national averages in the EU.

However, among the EU regions for which data is available, the highest prices for arable land were in the Spanish region of The Canary Islands – an average €120,477/ha in 2020.

Eurostat defines arable land as that which is worked – ploughed or tilled – regularly, generally under a system of crop rotation.

Arable land was cheapest in Croatia, with one hectare costing an average of €3,440 in 2020.

At regional level, a hectare of arable land cost the least in the southwest region of Bulgaria – an average of €2,051.

According to a Eurostat statement, land price depends on a number of factors such as national (laws); regional (climate, proximity to networks); and localised productivity factors (soil quality, slope, drainage and so on).

Additionally, the market forces of supply and demand, including the influence of foreign ownership rules, also impacts price.

In all EU regions for which data is available, buying arable land was more expensive than buying permanent grassland.

It was as much as 20 times more expensive on the Greek islands of North Aegean (Voreio Aigaio) and in the Spanish region of Murcia.

Likewise, buying irrigable arable land was more expensive than non-irrigable arable land in almost all regions. It was almost six times more expensive in the Spanish region of Murcia.

Аgriland.ie

Tags: Ireland, land prices, Bulgaria, EU, Netherlands, Croatia