Romania, the country with the cheapest arable land in EU
On average, the Netherlands recorded the most expensive purchase price of one hectare of arable land in the EU in 2016 (EUR 63,000), while the cheapest price was in Romania, with a hectare costing an average EUR 1,958 in 2016.
According to Eurostat, the statistical office of the European Union, 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 are available, the most expensive price for arable land was in the Liguria region of Italy (an average EUR 108,000 per hectare).
The level of land prices depends on a number of national (laws), regional (climate, proximity to networks) and localised factors (soil quality, slope, drainage etc.) as well as the market forces of supply and demand (including influence of foreign ownership rules).
As such, it is interesting to note developments in prices for regions over time.
From the data available, the strongest growth in land prices of arable land between 2011 and 2016 was in the Czech Republic (a three-fold increase), Lithuania, Estonia, Latvia and Hungary (a two-fold increase). Prices rose in other Member States too, albeit at much lower rates.
Not all land is owned by the farmer working the land. Many farmers rent their land, as either a short- or long-term business decision.
Renting one hectare of agricultural land was most expensive in the Netherlands (an average EUR 791 for the year), while the cheapest on average – in Latvia (EUR 46 per hectare per year).
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