Prices of Agricultural Land in Bulgaria Rose with 12% in 2018

Prices of Agricultural Land in Bulgaria Rose with 12% in 2018

The average price of the fields increased by 12.6 per cent in 2018 compared to the previous year, while a decare of agricultural land reached 941 levs before 2018, a growth of 7.9 per cent. The rental income has increased by 4.3 percent to 48 leva per hectare, according to data from the National Statistics Institute announced on Wednesday. Permanent grassland, however, declined by 16.8%.

In 2018 the highest is the price of the agricultural land in the North-East region - 1345 BGN per hectare. The increase in the price per hectare of agricultural land compared to the previous year was recorded in the North Central Region by 39.5% and in the South Central Region by 22.7%. Land prices in the Southeast region remain at almost the same level as in 2017 - a slight increase of 0.8% was noted. In 2018 there is a decrease in the price of one decare of agricultural land in the Southwest region - by 53.4%, in the Northwest - by 4.5%, and in the North-East region by 4.0%.

The average rental price per one acres of leased / farmed land reached BGN 48 per decare last year, 4.3% more than in 2017. Compared to the previous year, the increase in the rent for the fields is 6.4%. The cost of using permanent grassland remains unchanged.

The highest was the price per one acre rented / leased agricultural land in the Northeast region - 69 leva. An increase in the rental price over the previous year is observed in all statistical regions except the South Central Region.

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