site.btaEurostat Data: Arable Land Rents in 2023

In 2023, the average price of 1 hectare (10 acres) of agricultural land in the European Union was EUR 11,791. The average price received by owners who rented or leased their land per year was EUR 173 per hectare. This is according to data from the European statistics agency Eurostat, published on Tuesday on its website.

EU farmland prices

Among the EU countries for which data is available, the average price per hectare of agricultural land ranged from EUR 4,491 in Croatia to EUR 283,039 in Malta in 2023. The limited availability of arable land in the small island state, as well as its use for alternative purposes, is the reason for its high price, experts say.

Bulgaria ranked 15th in 2023 among EU countries for which data is available, based on the average price of 1 hectare of agricultural land (EUR 8,215). Compared to 2022. Bulgaria maintained its position, but the nominal price of land increased by 912 euro or 12.5%.

The lowest average selling price was registered in the Swedish regions of Upper Norrland and Middle Norrland - EUR 1,951 and EUR 2,378 per hectare respectively.

Renting agricultural land

The average price for renting or leasing agricultural land in Bulgaria in 2023 was EUR 312 per hectare per year, compared to EUR 313 in 2022. However, it was more than 17% higher than the EUR 260 per hectare reported in 2021. This ranks Bulgaria as the sixth-highest renter in the EU, after ranking seventh in 2022. 

In Bulgaria, arable land rental prices were highest in the Northeast region (EUR 440 per hectare per year) and lowest in the Southwest region (EUR 179 per hectare per year).

Farmland rents were highest in the Dutch province of Flevoland (EUR 1,787 per hectare) and in the Spanish Canary Islands (EUR 1,164 per hectare).

Rent and lease prices were lowest in the Swedish regions of Upper Norrland and Middle Norrland (EUR 24 per hectare in 2022).