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Farmland prices climb 7.3% in Hungary

Farmland prices in Hungary rose 7.3% last year and averaged HUF 1,727,000 per hectare, state news wire MTI reports citing an analysis by Agrotax.

Farmland was dearest in Hajdú-Bihar County at HUF 2,351,000 per hectare and cheapest in Zala County, at HUF 1,194,000 per hectare.

Farmland rental fees increased 4% to around HUF 75,000 per hectare. Fees were highest in the Southern Great Plains region, at HUF 80,000 per hectare, and lowest in Northern Hungary, at HUF 62,465 per hectare.

Agrotax managing director Ákos Sáhó said legislation in force from January 1 that aims to bring an end to undivided common property as a form of ownership would affect some 3 million-3.5 million people and more than 1 million plots of land with a combined area of around 2.4 million hectares.

Source of article and picture: Budapest Business Journal

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