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EU agricultural land price increased by 6.1% in 2024

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In 2024, the average price of 1 hectare of arable land in the EU was an estimated €15,224, an increase of 6.1% compared with 2023 (€14,343). The average annual rental price of arable land and permanent grassland was an estimated €295 per hectare, an increase of 6.4% compared with 2023 (€277).

This information comes from data on agricultural land prices and rents published by Eurostat today.
Among countries with available data, the highest average price for 1 hectare of arable land was in Malta (€201,263), followed by the Netherlands (€96,608) and Portugal (€76,556). 

The lowest average arable land prices were recorded in Latvia (€4,825 for 1 hectare), Lithuania (€5,590) and Slovakia (€5,823).

Click to enlarge.

Source dataset: apri_lprc

Renting 1 hectare of arable land was most expensive in the Netherlands, at an average €941 a year, followed by Denmark (€580) and Greece (€509).

By contrast, land rental prices were lowest in Slovakia (€69), Croatia (€76) and Malta (€92).

Click to enlarge.

Source dataset: apri_lrnt

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Methodological notes

  • Agricultural land prices and rents refer to the average price or rent price of 1 hectare of agricultural land without buildings or plantations during the calendar year.
  • Eurostat has estimated the 2024 EU average land price and rent as weighted averages based solely on data from the 24 EU countries, for which data are available. This includes the latest available data from previous years for Italy (land prices and rents) and for Austria and Estonia (land rents). Weighting was based on land areas from the 2023 Integrated Farm Structure Survey.
  • Following the implementation of the SAIO Regulation, Eurostat adapted the methodology used to calculate EU aggregates. To avoid a break in the time series, EU aggregates were subsequently recalculated for the entire period using this new methodology.

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