November 22, 2017

Romanian farmland doubled in price in the last four years – DTZ Echinox

A DTZ Echinox report reveals that the price of Romanian farmland will remain on an upward trend and it should reach an average of EUR 3,000 per hectare in three years time. At the moment, local farmland is between 3 to 7 times cheaper than in other European states. Lats year, the average price of a hectare of farmland was of EUR 1,972, up from EUR 927 in 2007 and EUR 1,700 in 2010. There are, however, considerable variations depending on the region and the size of the plot. The real estate company estimates that there are about 500,000 hectares of farmland for sale in Romania, but most of it is available in small plots. The 2010-2011 national agriculture census reveals that there are about 8.2 million hectares of arable land in Romania, placing it in fifth position in the EU, after France, Spain, Poland and Germany. Low prices have attracted numerous foreign investors in the past years. About 8.5 percent of the country’s total farmland is owned by foreigners (through local companies) according to data from the Ministry of Agriculture.

Source: Business-Review () writemyessay4me.org

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