Growing prices of agricultural land over the past ten years have turned it into one of the most profitable investments in Bulgaria, according to experts.

"While in 2002 the average price of agricultural land was BGN 140 per decare, in end-2011 it grew to BGN 407-410 per decare," says Borislav Petkov, Chair of the Bulgarian Association of Agricultural Land Owners, as cited by profit.bg.

"We expect an increase by 7-10% for 2012," he adds, specifying that the price of agricultural land will reach an average of BGN 450 per decare.

According to calculations of profit.bg, investments in agricultural land should have trebled our money over the past ten years.

The business news portal reminds that the price of agricultural land went up by 50% in the period 2009-2012, from an initial BGN 300 per decare to BGN 450 per decare.

The most serious price increase was reported in 2007-2008, when the price of agricultural land went up by over 45% within 12 months.

A decrease by around 14% followed and at the end of 2009 the price was BGN 300 per decare.

According to profit.bg citing a Romanian consultancy, agricultural land in Romania is 2.4 times more expensive than in Bulgaria.

Analysts say that this paves the way for further increases.

According to specialists, prices of agricultural land, combined with rising food prices on international markets, mean that agriculture may become an attractive business for many Bulgarians in the coming years.

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