Agricultural land in Serbia is becoming increasingly expensive. The highest prices are reached for plots near highways, close to cities, or tourist destinations. Well-informed individuals often purchase land, for example, along the route of a future road, intending to resell it at a higher price later. According to RTS, most buyers prefer cash transactions.
In the region of Čačak, in Sokolići, the price of land per acre, depending on its class, can go up to 200 euros, with the location being the primary determinant of the price.
“Now, when a small plot appears, it’s gone within a day. And more people are looking for it, but there’s not much available for sale. It’s hard for people to decide to sell their inherited land,” says Radivoje Domanović from Sokolići near Čačak.
As cultivable land decreases and demand rises, the price of land is increasing.
“We know that as you go from Novi Sad towards Belgrade, about 20 to 30 kilometers there, everything along the asphalt has been turned into building land, and these are prime lands around Inđija, Pazova, and Beška,” says Mile Zarin, a farmer from Jaša Tomić.
Slobodan Jovanov, a member of the City Council for Agriculture in Vršac, states that in their area, due to wind turbines, market prices significantly differ from agricultural land, i.e., land used for agricultural production.
He mentions that the price there is sometimes five to six times higher than the market price.
For example, on a real estate selling website, a 4.5-hectare plot in Čortanovci, classified as fourth-class land, is listed at around 270,000 euros.
Foreigners are allowed to buy agricultural land
For the past six years, the law allows foreigners to buy agricultural land in Serbia.
“The fact that Vojvodina is populated by Vojvodina Hungarians with dual citizenship, where their home country, Hungary, encourages the purchase of agricultural land with certain subsidies, has increased the demand for the plains of Vojvodina,” says Mirjana Janić from the “Solis” agency in Novi Sad.
The most desirable are, she says, plots larger than 10 to 20 hectares, typical for the Bačka region, classified as second and third-class land, for which sellers expect to receive between 13,000 and 15,000 euros.
Lands near residential areas are interesting to investors
There is demand for affordable agricultural land that, through rezoning, can be converted into construction land – plots near residential areas are particularly attractive to investors.
“Those who had information about the reclassification of land from agricultural to construction land are at an advantage because they bought the land at lower prices,” says Danijela Nišavić from the “Fertile Land” website.
Previously, such land used to cost a few hundred euros per hectare, but now, these fields are sold for tens of thousands of euros.
Experts emphasize the importance of preserving agricultural land. Many countries across Europe and the world treat arable land as a national resource, leading some to impose strict restrictions and bans on the sale of parcels to foreigners.
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