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Bulgaria Among EU Countries with Highest Agricultural Land Rental Prices
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In 2023, the average price for one decare of arable land across the European Union (EU) was 1,179 euros, or 11,791 euros per hectare, translating to 2,358 levs. Meanwhile, the average annual rental price for arable fields and permanent pastures in the EU stood at 17.3 euros per decare (173 euros per hectare), or 34.60 levs per decare, well below the rental prices in Bulgaria. Two years ago, rents in Bulgaria ranged from 40 to 100 levs per decare, according to Eurostat data.
The EU's highest land prices were recorded in Malta, where the average cost for one hectare of arable land reached 283,039 euros, or 56,606 levs per decare. The Netherlands followed closely with an average price of 91,154 euros per hectare (18,230 levs per decare), followed by Luxembourg at 42,540 euros per hectare (8,508 levs per decare). Conversely, the lowest land prices were found in Croatia (4,491 euros per hectare, 898 levs per decare), Latvia (4,591 euros per hectare, 918 levs per decare), and Slovakia (5,189 euros per hectare, 1,036 levs per decare).
There are significant regional differences in land prices within the EU. In Austria, the highest prices are found in Vienna, with a hectare costing 18,900 euros per decare (37,800 levs). The province of Flevoland in the Netherlands follows, where land is priced at 178,093 euros per hectare (35,618 levs per decare), while the Canary Islands in Spain have a price of 148,247 euros per hectare (29,648 levs per decare).
Rental prices also vary across the EU, with Slovakia having the lowest average annual rent at 67 euros per hectare (26.8 levs per decare). The Netherlands recorded the highest rent for arable land and permanent pastures at 914 euros per hectare (182.80 levs per decare). In comparison, Bulgaria ranks seventh for rental prices in the EU, with an average rent of around 62 BGN per decare in 2023. Although rental rates in Bulgaria can reach over 90 BGN per decare, the country’s average rent is still significantly higher than the EU average of 38 BGN per decare.
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