Bulgaria's arable land prices grow 12.5% in 2023

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)