The average price of farmland in 2022 broke the HUF 2 million mark

By: STA Date: 2023. 02. 23. 09:30

In 2022, the average price of agricultural land per hectare increased by 11 percent, similar to previous years, and thus crossed the psychological limit of HUF 2 million – Agrotax Kft. summarized the conclusions of its annual land market analysis in its presentation sent to MTI on Thursday.

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The average market price of agricultural land per hectare increased to HUF 2.186 million in 2022, from HUF 1.969 million the previous year. The average price of arable land increased to HUF 2.33 million, which is an 11.1 percent increase compared to the previous year. Last year, the rent for arable land was HUF 86,564 on average.

The market turnover of farmland fell by 27 percent compared to the previous year

The average size of the plots of land sold also decreased by about 25 percent. László Sáhó, the managing director of Agrotax Kft., explained the drop in turnover by saying that the land turnover has partly shifted to the division of undivided jointly owned lands, which means that the supply is getting narrower and the already high land prices continue to rise.

The highest average price, HUF 2.8 million per hectare, was still in Central Hungary

Average prices above HUF 2 million characterized the Great Plain as well as Central Transdanubia. The lowest, HUF 1.683 million per hectare, was established in Northern Hungary. 68.2 percent of the transactions concerned 14,000 hectares of arable land. The second largest turnover – both in terms of size and number of transactions – was for the forest, followed by lawn-meadow-pasture, then orchards and vineyards.

MTI