Takarék group: the price increase rate of agricultural land accelerated to a four-year high in 2021

(Photo: Pixabay)

According to the Agricultural Land Index of Takarék Jelzálogbank, the price increase of agricultural land in real terms last year was the same as 3.2 percent in 2020. According to the annual report, the amount to be paid per hectare increased in all branches of cultivation except arable land. The average price of arable land per hectare rose by 6.5 percent to HUF 1.81 million, following the 6.8 percent increase in 2020. The price per hectare increased in all regions, the most was paid in Central Hungary and Southern Transdanubia for a hectare of arable land (HUF 2.07 million), but the average price per hectare in the Southern Great Plain rose to close to HUF 2 million (HUF 1.98 million). and in the Northern Great Plain (1.95 million forints). The cheapest was in Northern Hungary, where one hectare of arable land could be purchased for HUF 1.21 million. On an annual level, the largest price increase was measured in Central Hungary and Southern Transdanubia (17.1 to 17.1 percent), and the smallest in the Southern Great Plain (5.8 percent).

At the county level, the most expensive area in 2021 was again in Tolna, where one hectare of arable land cost HUF 2.35 million

Among the counties, the lowest prices were registered in Nógrád, with an average price of slightly more than HUF one million. Among the districts, the specific price of arable land in Hajdúszoboszló was once again the highest, exceeding HUF three million. Arable land changed hands last year in the districts of Bélapátfalva, Pétervásara, Putnok and Ózd for the cheapest price, on average less than HUF 700,000, but due to the small number of transactions, the prices
may fluctuate – said Takarék Jelzálogbank.

By category, from 2020 to 2021, the prices of forests and wooded areas increased at the highest rate, by 15.5 percent

An increase of more than ten percent (10.3 percent) was measured in the price of grapes, while orchards rose by 9 percent and lawns, meadows and pastures by 8.8 percent. Last year, orchards were among the most expensive fields of cultivation with a price of HUF 2.02 million per hectare, but vineyards (HUF 1.89 million) and arable land (HUF 1.8 million) were not far behind. Lawns, meadows and pastures, as well as forests and wooded areas, were sold at an average price of HUF 1.12 and 1.16 million respectively. According to the analysis, compared to 2010, the price of orchards and arable land tripled, that of lawns, meadows and pastures by 180 percent, while the amount to be paid for forests and wooded areas increased by two and a half times per hectare. Significant differences in prices can be observed by region. The value of the Takarék Termőföld index rose from 247.5 in 2020 to 268.5 in 2021, and the value adjusted for the consumer price index increased from 180.2 to 185.9 last year.

MTI