The price of agricultural land
What is the price of agricultural land? Almost every owner of agricultural land has thought about its value at least once. Kalme provides each client with a free consultation on the price of agricultural land. We take into account actual transactions that have taken place near the client’s property and the characteristics of the property.
What affects the price of agricultural land?
- Location. In Zemgale, the prices of agricultural land are at least 3x higher than in Latgale.
- Property area. The larger the property, the higher the price per hectare.
- Land quality assessment. The more points, the higher the price.
- Access road. It’s important!
- Reclamation. A reclaimed property costs significantly more than an unreclaimed one.
- Farmer density. The more farmers in the vicinity, the greater the competition for property.
- Property configuration. The more rectangular the property, the cheaper it is for the farmer to manage it.
- Encumbrances. Electricity poles, proximity to the railway, nature reserves, etc.
Real transactions that took place in 2021.
THE PRICE OF AGRICULTURAL LAND
The table below shows some land sale transactions in the Zemgale region in 2021. We are proud that we have helped to complete some of those transactions. In total, we have completed 83 successful transactions in 2021. A large number of properties in specific municipalities sold for record-high prices. Let us find a buyer for your property too. We can help you get a fair price for your agricultural land!
|Price per ha||Rundāle|
|Price per ha||Jelgava|
|Price per ha||Dobele|
|Price per ha|
Please note that the prices in the table are the highest at which transactions happened in 2021. In some rural territories, transactions at the highest prices were lower than in the previous year. It is important to note that the number of transactions in the Zemgale region has decreased in 2021. Unfortunately, in the transaction database of www.cenubanka.lv, there are transactions where owners have sold their agricultural land for a price much lower than its actual value. Kalme invites you to contact us before selling your agricultural land – we will consult you on your property’s value free of charge.
The small number of transactions and high demand from potential buyers will cause the prices of agricultural land in Zemgale to keep increasing in 2023. However, the increase in the price per hectare will not be as fast as before because it has already reached a high level.
Official state statistics
THE PRICE OF AGRICULTURAL LAND
We have added information on arable land transactions from 2015 to 2020, collected by the Central Statistical Bureau (CSB), a structural unit of the Ministry of Economics of Latvia. The prices of agricultural land are listed per hectare.
|Pierīga||2 844||3 167||3 139||3 837||3 864||3998|
|Vidzeme||1 717||1 758||2 119||2 612||2 743||2765|
|Kurzeme||2 461||2 657||3 100||4 078||4 088||4109|
|Zemgale||3 867||4 449||4 504||5 007||5 128||5951|
|Latgale||1 011||1 139||1 504||2 022||2 074||2110|
Why are CSB transaction prices so low?
It is important to note that these data are based on the average prices of agricultural land transactions. In Latvia, there are many overgrown, unused agricultural lands with sales prices of ~1000EUR/ha. At the same time, this region also has high-quality arable land, the value of which will be many times higher.
In our opinion, in most cases the landowner does not know the market price of agricultural land, as a result of which the property is sold to the first buyer at a significantly reduced price. Do not sell your property to the first buyer!