The price of farmland in Hungary fell for the first time in more than ten years last year

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The average market price of agricultural land per hectare exceeded the psychological level of HUF 2 million in 2022, they wrote. The highest average price, HUF 2.6 million per hectare, was still in Central Hungary, followed not far behind by the Great Plains region, with HUF 2.5 million. An average price of less than two million forints (1.876 million forints) was typical in Western Transdanubia, while the lowest, 1.733 million forints per hectare, was established in Northern Hungary. László Sáhó, the managing director of Agrotax Kft., explained the stagnant prices by the fact that smaller and lower-quality lands appeared on the market to a greater extent than before and were therefore priced lower. In the best-selling cultivation branch, arable land, the increase remained, but only to a lesser extent. In the medium term, the dynamic upward trend may remain, he added.

The market turnover of agricultural land increased by 26 percent last year, to 29,127 hectares, thereby almost completely overcoming the sharp decline in 2022 and returning to the level of 2021

The average price of arable land increased by 3.8 percent to HUF 2.419 million. With the exception of the Central Hungary and Central Transdanubia regions, prices rose everywhere. Last year, the rent for arable land increased by an average of 11.7 percent to HUF 96,756. It was the highest in the Southern Great Plain (HUF 103,354 per hectare), while the lowest was in Northern Hungary (HUF 83,333 per hectare). The national average price of orchards was 3.976 million forints per hectare, for grapes 3.668 million forints, while the average price of lawns and forests per hectare was 1.653 million and 1.307 million forints, respectively.

MTI