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Agricultural land prices rise by more than 7 percent
The average agricultural land price increased further in the last quarter of 2023. In addition, the average land price in the Netherlands has increased by 2023% over the entire year of 7,4 to €78.800 per hectare. This is mainly due to the higher value of arable land, as shown by the figures from the Land Registry in the quarterly report on the agricultural land market.
The average land price in the Netherlands increased by 2023% to €6,2 per hectare in the last quarter of 82.400. The average price of arable land increased by 4,5% to €93.100 and the price of grassland increased by 2,2% to €71.400 per hectare. Cutting maize land remained virtually the same in the last three months of the year and therefore amounts to €80.300 per hectare.
While land prices fell sharply in all categories during 2023, land prices actually increased again in the second half of 2023. This means that the average land price for the whole of 2023 will be €78.800 per hectare, an increase of 7,4%. Arable land has the largest share in this increase due to its increase in value, followed by grassland.
In the last quarter of 2023, 10.200 hectares were traded, about 7% less than in 2022. On an annual basis, 27.400 hectares were traded, a decrease of 11%. The average agricultural land price ranges from €59.500 in Friesland to €177.000 per hectare in Flevoland. The price increase for arable land in the province of Flevoland is again the largest, from €154.000 at the end of 2022 to €177.000 in the last quarter of 2023.
Jesse Torringa
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