The average price of arable land in the EU rose to an estimated €15,224 per hectare in 2024, up 6.1% from 2023.
Average annual rent for arable land and permanent grassland also increased, reaching an estimated €295 per hectare in 2024, up 6.4% from €277 a year earlier, Eurostat revealed on Wednesday.
Among the EU countries with available data, Malta recorded the highest average arable land price at €201,263 per hectare, followed by the Netherlands at €96,608 and Portugal at €76,556.
The lowest average arable land prices were in Latvia at €4,825 per hectare, Lithuania at €5,590 and Slovakia at €5,823.
Rents vary widely across the EU
Renting arable land was most expensive in the Netherlands, where it averaged €941 per hectare per year, followed by Denmark at €580 and Greece at €509.
The lowest average rents were recorded in Slovakia at €69 per hectare per year, Croatia at €76 and Malta at €92.
