Farmland prices rise 5% in 2020

Land

Farmland prices rose by 5% on average in Hungary last year, OTP Mortgage Bank said, according to a report by state news wire MTI.

The average price of farmland rose from HUF 1.59 million per hectare in the previous year to HUF 1.67 mln, they said, citing non-comprehensive data from the tax authority NAV. 

Farmland prices increased by 18% in Fejér county and went up by more than 10% in Nógrád, Pest, and Heves counties. Prices fell in three counties - Békés, Somogy and Zala -, with the biggest drop registered in Zala county, where they fell by 8%.

Per hectare prices were the highest in Hajdú-Bihar county, with HUF 2.33 million per hectare. 

The market for farmland continued to narrow last year after a slowdown in the previous year. The number of sale and purchase transactions dropped by almost 10% to 37,000 in 2020.

ADVERTISEMENT

Takarékbank lowers 2021 GDP growth forecast to 6.9% Analysis

Takarékbank lowers 2021 GDP growth forecast to 6.9%

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New partner announced at act Bán & Karika Attorneys at Law Appointments

New partner announced at act Bán & Karika Attorneys at Law

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.