Arable land prices rise 8.7% in 2020

Land

Arable land prices in Hungary averaged HUF 1.7 million per hectare last year, up 8.7% from 2019, data compiled by the Central Statistical Office (KSH) show, according to a report by state news wire MTI.

Farmland was dearest in Hajdú-Bihar County, in the east of the country, with a median price of HUF 2.2 mln per hectare. It was cheapest in Nógrád County, in the north, with a median price of a little over HUF 0.9 mln per hectare.

Some 45,000 hectares of arable land were sold in Hungary last year, down from 51,000 hectares in 2019.

The average annual rental price for a hectare of arable farmland stood at HUF 64,400 per hectare last year, up 7.3% from 2019. Rental prices were highest in Tolna County at HUF 87,000 per hectare and lowest in Nógrád County at HUF 41,200.

The average price of a hectare of pastureland rose 12% to HUF 0.8 mln and the average price for forested area increased 7% to HUF 0.8 mln.

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