site.btaAgricultural Land Deals Reach 5.9% Annual Growth in Bulgaria

The average price of arable land transactions in Bulgaria reached BGN 169.7 per hectare in 2024, which was an increase of 5.9% compared to 2023, the National Statistical Institute (NSI) reported on Tuesday. NSI data show that in 2023, the average price of such transactions stood at BGN 160.7 per hectare, which was 12.5% higher than in 2022.

The average price for transactions of permanent grasslands (natural and artificial meadows, commons and pastures) reached BGN 36.7 per hectare, marking a 4.9% decrease year-on-year.

Compared to the previous year, five statistical regions in Bulgaria reported increases in the price of arable land transactions in 2024: Severozapaden (Northwestern), Severen tsentralen (North Central), Severoiztochen (Northeastern), Yugoiztochen (Southeastern), and Yugozapaden (Southwestern) regions. A decrease of 0.6% was recorded in Yuzhen tsentralen (South Central) region.

In 2024, the average rent/lease price per hectare of arable land reached BGN 6, which is 3.2% lower than in 2023. The average rent/lease price for permanent grasslands remained unchanged at BGN 2.4 per hectare.

The rent/lease price per hectare of arable land decreased year-on-year in the Severen tsentralen (North Central), Severoiztochen (Northeastern), Yugoiztochen (Southeastern) and Yuzhen tsentralen (South Central) regions. The largest decline was observed in the Severoiztochen (Northeastern) region, with a 9.3% drop compared to 2023. Despite the decrease, the highest average rent/lease price in 2024 remained in the Severoiztochen (Northeastern) region, at BGN 7.8 per hectare. Prices in the Severozapaden (Northwestern) and Yugozapaden (Southwestern) regions remained unchanged.