Agricultural land prices have tripled and will continue to grow

In the last 10 years, the price of agricultural land in Latvia has increased almost three times, but it is still significantly behind Poland and even more so the Netherlands; evaluators predict a price increase of 30-50% within five years. This is shown by a study by SIA Latio. “European countries not only have different agriculture, but also very radically different land prices,” Sandijs Lūkins, head of the sales department of SIA Latio Mežu, shows the research data. He thinks that it is difficult to compare the price of a hectare of arable land – almost 70,000 euros in the Netherlands and 3,400 euros in Latvia. The data shows that arable land in the Netherlands is twice as expensive as it is in Italy and even 2.5 times more expensive than in the UK, somewhat surprisingly the fifth most expensive arable land is in Slovenia at €18,800 per ha, which is more expensive than in Denmark. In the Baltic region, arable land is the most expensive in Lithuania, where the average price is 4,000 euros/ha, followed by Latvia with 3,900 euros/ha and Estonia with 3,500 euros/ha.

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