Land Prices Increase By 5%

The average price per one decare of agricultural land in Bulgaria rose by 14.6% year-on-year to 872 levs ($543.6/445.8 euro) in 2017, the National Statistical Institute (NSI) said on Tuesday. The price of arable land rose 13.0% to 870 levs per dca in 2017, while the price of permanent grassland fell 3.4% to 262 levs per dca, NSI said in a statement.

The highest price of agricultural land was in Bulgaria’s northeast region – 1,401 levs per dca. Agricultural land prices rose the most, by 83.4%, in the southwest region, but still remained the lowest in the country – 406 levs per dca.

The average rent price per one dca of leased agricultural land rose by an annual 4.5% to 46 levs in 2017. Rent prices of arable land increased 6.8% to 47 levs, while rents of permanent grassland grew 6.7% to 16 levs.

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