The average price of one hectare of arable land in the EU was €10,578 in 2022 according to new report but in Ireland it was more than three times that price.
Latest Eurostat research shows that the national average price of arable land in Ireland was estimated to be in the region of €38,013/ha in 2022.
This represents a significant year on year jump in the average price of arable land in Ireland which was €32,201/ha in 2021, compared to €25,724/ha in 2020.
However, this is still considerably lower compared to prices in one of the more expensive regions to purchase one hectare of arable land – the Netherlands.
Prices there ranged from €66,051 in Friesland to €150,644 in Flevoland and where the national average price is in the region of €85,431/ha.
According to the latest Eurostat report the price of one hectare of arable land ranged the lowest of €3 700 on average in Croatia to €233,230 on average in Malta.
The reason why arable land is so expensive in Malta is down to its “limited availability” and the demand for land for alternative uses.
Arable
Research also shows the cheapest region in the EU to buy one hectare of arable land in 2022 was in Övre Norrland – on average €2,041 and Mellersta Norrland – €2 437 both in Sweden.
Meanwhile in Greece, prices ranged from €6,290/ha in Dytiki Ellada to €84,820 in Attiki while the national average was in the region of €13 571 per hectare.
In Spain, prices ranged from €4,906/ha in Extremadura to €83,299 in Canarias and the national average was in the region €10 263/ha.
Grassland
In general the average price of one hectare of arable land in most EU countries was about €2,200 more than the average price of one hectare of permanent grass in 2022 – €8,393.
Arable was also more expensive compared to permanent grassland in almost all countries and regions.
Permanent grassland was cheapest in Bulgaria at €1,887/ha in 2022.
Rental prices
According to Eurostat the average rental price of arable land or permanent grassland was €199/ha in 2022.
The rent for one hectare of permanent grassland in 2022 ranged from a low of €32 on average in Slovakia to €354 on average in Ireland.
But rental prices for arable land were much more varied and ranged from €77/ha in Slovakia to €510/ha in Ireland on average.
However among the most expensive countries to rent one hectare of either arable land or permanent grassland continued to be the Netherlands at €843/ha in 2022, followed by Denmark at€561/ha.