Farmland Prices Fall for First Time in a Decade
Photo by Nikolett Emmert / Shutterstock.com
The average price of farmland in Hungary reached HUF 2,172,000 per hectare in 2023, falling for the first time in more than 10 years, an analysis by Agrotax shows.
Farmland prices slipped around half a percent from HUF 2,186,000 in 2022.
The price of farmland was the highest in Central Hungary, at HUF 2.6 million/hectare, followed by the Great Plain region, where prices averaged HUF 2.5 million/hectare. Prices were under HUF 2 million/hectare in the west and north of the country.
Farmland sales rose 26% to 29,127 hectares in 2023.
Rental fees for farmland increased 12% to an annual HUF 96,800.
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