The average price of farmland in Serbia was 7,500 euros per hectare, which is below the average in many EU countries, including Hungary, France, Bulgaria and Romania, where the price was under 10,000 euros, according to recent data from Eurostat. The average price of agricultural land in the European Union reached 11,791 euros per hectare in 2023. While prices have been steadily increasing year by year, they also vary significantly between EU member states and within different regions of these countries.
The lowest average land prices were recorded in Croatia (4,491 euros per hectare), Latvia (4,591 euros), and Slovakia (5,189 euros). On the other hand, Malta reported the most expensive land at a staggering 283,039 euros per hectare, followed by the Netherlands at 91,154 euros and Luxembourg, where agricultural land sold for an average of 42,540 euros per hectare.
In comparison to these figures, Serbia’s farmland prices in 2023 were below the EU average but significantly higher than in Croatia. The average price per hectare in Serbia during that period was 7,500 euros, which is still under 10,000 euros, similar to prices in several EU countries like Hungary, France, Bulgaria, Finland, and Romania, according to the “ec.evropa” portal.
According to official data from the Republic Geodetic Authority (RGZ), the average price of agricultural land in Serbia continued to rise in the first half of 2024, reaching about 7,900 euros per hectare. Prices ranged from 400 euros to as high as 40,000 euros per hectare, showing considerable variations depending on the location and quality of the plots. This mirrors the situation in the European Union, where land in the most productive agricultural regions often surpasses the national average by a significant margin.
Interest in purchasing land in Serbia remained stable, with the total value of agricultural land transactions in the first half of last year reaching 117.5 million euros. This marked an 11.3% increase in market value and a 2.3% increase in the number of transactions. The majority of these transactions, 69%, took place in Vojvodina, where the most expensive land was sold in Rumenka, near Novi Sad, at a price of 50 euros per square meter.
Real estate agents and brokers, who mediate between land buyers and sellers, pointed out that, as in previous years, plots near roads remain highly sought after by serious agricultural producers. They also confirmed that land prices are highest when used for consolidating holdings, although large plots in Vojvodina are becoming increasingly scarce.
