The average price of one hectare of arable land in the European Union stood at €11,791 in 2023, while annual rental rates for arable land or permanent grassland averaged €173 per hectare, according to data released by Eurostat on Tuesday.
Malta recorded the highest average arable land price among the 22 EU countries with available data, at €283,039 per hectare. This was significantly higher than the Netherlands (€91,154 per hectare) and Luxembourg (€42,540 per hectare), which ranked second and third, respectively.
At the other end of the spectrum, the lowest average prices were reported in Croatia (€4,491 per hectare), Latvia (€4,591), and Slovakia (€5,189).
Land Prices by Region: Stark Contrasts
Significant regional differences in arable land prices were noted across the EU. Malta, a single region at this level of detail, had the highest price at €283,039 per hectare. Among regions in other countries, Austria’s capital Wien (€189,000 per hectare), Flevoland in the Netherlands (€178,093), and the Canary Islands in Spain (€148,247) posted the highest prices.
By contrast, the cheapest land was found in Sweden’s Övre Norrland (€1,951 per hectare) and Mellersta Norrland (€2,378), as well as France’s Franche-Comté (€2,580).
Rental Prices: Dutch Land Most Expensive to Lease
Among the 21 EU countries with available rental data, the Netherlands led with the highest average annual rental price for arable land or permanent grassland at €914 per hectare. Slovakia recorded the lowest average rental rate at €67 per hectare.
Flevoland in the Netherlands topped the list of the most expensive EU regions to rent agricultural land, with an average rate of €1,787 per hectare, followed by the Canary Islands (€1,164) and Noord-Brabant (€1,111) in the Netherlands.
On the lower end, rental prices were just €24 per hectare in Sweden’s Övre Norrland and Mellersta Norrland in 2022. In Slovakia, Stredné Slovensko (€40 per hectare) and Východné Slovensko (€43 per hectare) recorded the lowest rates in 2023.