How much does it cost to buy arable land in Romania and how much do you pay in other EU countries?
On Tuesday, the National Institute of Statistics (INS) released statistical data for 2024, provided by EU member states and disseminated by Eurostat, on agricultural land prices by category of use, arable land, and permanent pastures.
Average agricultural land prices refer to the value of one hectare of agricultural land during the reference period (one calendar year), namely 2024. It should be noted that the level of agricultural land prices depends on a number of criteria such as national factors (legislation), regional factors (climate and proximity to irrigation networks and systems), and localized/specific productivity factors (soil quality, slope, or drainage).
Thus, using the methodology agreed at European level, in Romania, in 2024, the average price of one hectare of arable land was 43,280 lei/ha (8,656 euros at an exchange rate of 5 lei/euro). The lowest average price was recorded in the North-East Region, at 37,693 lei/ha (7,539 euros), while the highest value was recorded in the Bucharest-Ilfov Region, at 62,477 lei/ha (12,496 euros).
In 2024, compared to the previous year, Romania saw an increase of approximately 4% in the average price of arable land, with the most significant increase observed in the South-West Oltenia Region (+8.3%).
The average price of permanent pastures increased by approximately 3.6% in 2024 compared to the previous year, with the most significant increases in the South-East Region (+7.3%) and the South-Muntenia Region (+7.3%).
Also in 2024, the average price of a hectare of arable land in the European Union showed significant variations. According to data available for 22 EU Member States in 2024, arable land prices fluctuated between a minimum of €4,825/ha on average in Latvia and a maximum of €201,263/ha on average in Malta, while in Romania the average price was €8,700/ha.
The average price of permanent pasture in EU Member States in 2024 ranged from a minimum of €1,877/ha in Bulgaria to a maximum of €77,609/ha in the Netherlands, while in Romania the average price was €6,257/ha.