The price of agricultural land skyrockets in Belgium
Tuesday, 09 April 2019
The cost of agricultural land has become the subject of speculation, Le Soir reported on Tuesday, indicating that the price per hectare has risen by more than 26.6 % over five years in Belgium. According to the notarial bellwether concerning agricultural land, the average price in Belgium of a piece of agricultural land brokered in 2018 has risen to nearly 45,000 euros per hectare. It was 5 % less in 2017 and the increase has equally been reflected in previous years with a price per hectare that has grown by 26.6 % over five years.
The average price of agricultural land varies enormously in each province, according to the situation (border location with Luxemburg or France, for example). The average price per hectare in 2018 in Wallonia varied between 27,000 euros (Luxemburg) and 39,000 euros (Walloon Brabant).
The price is highest in Flanders, 40% more expensive than in Wallonia. In Flemish Brabant, 37, 000 euros per hectare is mentioned and 64,000 in the province of Antwerp and western Flanders.
“When a hectare of wheat costs 1,100 euros and brings in 1,500, you can’t buy land for 30,000 euros a hectare. The problem stems from very large undertakings and from people with nothing to do with farming earning lots of money and coming from the agri-food industry or elsewhere. At times, the excess is such that it is killing off the small farmer and there’s nothing we can do,” he continued.