Top-quality agricultural land in Latvia now costs 10,000 euros/ha - Zeme un valsts

Top-quality agricultural land in Latvia now costs 10,000 euros/ha

For several years now, there has been a noticeable shortage of agricultural land in Latvia. As demand continues to outstrip supply, rural land is becoming more expensive every year. Over the last eight years, the price of agricultural land has increased on average by a factor of 2.5. Farmers are prepared to pay several thousand euros per hectare for a good plot of land, and some are even paying more than 10,000.

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There has always been a difference in agricultural land prices between Zemgale and Latgale. The primary reasons are soil fertility and purchasing power. Admittedly, land prices have risen over the last eight years not only in Zemgale but also in Latgale. According to Neatkarīgā's calculations, which are based on data from the State Land Service, the price of agricultural land in Latgale has increased 2.4 times since 2011, and 2.3 times in Zemgale. Meanwhile, the most rapid growth has been in Kurzeme, where last year agricultural land cost on average 3.4 times more than it did eight years ago.

Top-quality agricultural land in Latvia now costs 10,000 euros/ha

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