Which European Countries Have the Most Expensive Farmland?

April 12, 2018 04:00 AM
 
Here are the countries with the highest farmland prices in European Union member states, according to a new report (featuring 2016 data) from Eurostat.

Think Iowa farmland is pricey? Cast your eyes to Europe for a little perspective. Here are the countries with the highest farmland prices in European Union member states, according to a new report (featuring 2016 data) from Eurostat.

  1. Netherlands
  2. Italy
  3. Luxembourg
  4. United Kingdom
  5. Ireland
  6. Denmark
  7. Slovenia
  8. Spain
  9. Greece
  10. Slovakia

The Netherlands’ per-hectare price of farmland for 2016 was 63,000 euros.

To help with the math, the current exchange rate for euros to U.S. dollars is 1 to 1.24. So, 63,000 euros equals $78,031. And, 1 hectare equals about 2.5 acres. That means 1 acre of land in the Netherlands is worth around $31,200.

EU ag land prices
Source: Eurostat

The price of farmland in Europe depends on several factors, according to Eurostat. They are:

  • national laws
  • climate
  • soil quality, slope, drainage etc.
  • market forces of supply and demand, including the influence of foreign ownership rules

In almost all regions, buying arable land was more expensive than permanent grassland. Additionally, irrigated arable land was more expensive than non-irrigated.

The strongest growth in arable land prices between 2011 and 2016 was in the Czech Republic (a three-fold increase), Lithuania, Estonia, Latvia and Hungary (a two-fold increase). 

The highest farmland rent price was also in the Netherlands. The average per-year rental rate is 791 euros per hectare. The cheapest per-hectare annual rent rate—46 euros—is in Latvia.

EU ag land rent prices
Source: Eurostat

Back to news


Comments

 
Spell Check

Son-of-Butch
Plato, MN
4/12/2018 06:21 AM
 

  1. Netherlands $31,200 2. Italy $20,000 acre 3-10 average under $10,500 But of course reporting anything other than extreme top makes subject less interesting.

 
 
C.K
bad axe, MI
4/12/2018 08:13 AM
 

  With the China Yuan being the choice of most world countries for there bank reserves , thanks to the IMF and the World Bank dropping the US dollar as the world reserve currency last October . Most of theses countries that have high land prices have high internal credit market debt. Take Russia ,China, Africa , Brazil , low internal credit market debt very low land prices . Russia you can buy prime ground for $400.00 per acre . The European union as well as the united states basically printed there agricultural interest out of business .

 
 
Jan Verstraeten
Rock Hill, SC
4/14/2018 01:52 PM
 

  Farming Interest

 
 

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close