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Bulgaria's arable land prices grow 12.5% in 2023

Jul 5, 2024, 12:47:25 PMArticle by Mihaela Miteva
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July 5 (SeeNews) - The average price of arable land transactions in Bulgaria rose by an annual 12.5% to 16,070 levs ($8874/8216 euro) per hectare (ha) in 2023, with higher prices recorded in five out of the country's six regions, the statistical office said on Friday.

Bulgaria's arable land prices grow 12.5% in 2023
Photo: Unsplash

The average price of permanent grassland, or meadows and pastures, grew by an annual 5.1% to 3,880 levs per ha last year, the National Statistical Institute (NSI) said in a data release.

Prices of arable land last year were highest in Bulgaria's northeastern region - at 25,000 levs per ha, marking a 22% jump year-on-year.

In comparison, deal prices in the south-central region slipped by an annual 4.1% to 6,760 levs per ha, which was also the lowest price recorded in all six regions.

The average rent and lease price of arable land in Bulgaria declined by 1.6% on the year to 620 levs per ha in 2023, while rent and lease prices for permanent grassland fell by 3.8% to 250 levs per ha on average.

(1 euro = 1.95583 levs)

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