The price of agricultural land in Bulgaria will continue to decline for at least the next two years. The data comes from the Bulgarian Association of Agricultural Land Owners (BAALO) and shows that the agricultural land market in the country is highly fragmented and corporate buyers have withdrawn from it over the last year.
According to BAALO, the main reasons for this are the war in Ukraine, issues with the Green Deal, and the drought, which led to lower yields. As a result of all this, the price has dropped by 20% in the last year alone.
The most expensive land in the country is in Dobrudzha, with prices reaching up to 3,000 BGN (EUR 1,500) per decare. In Southeastern Bulgaria, prices are around 800 BGN (EUR 400) per decare, while in Southwestern Bulgaria, there are almost no deals. The price for renting agricultural land is 70-90 BGN (EUR 35 to 45) in Northern Bulgaria and 50 BGN (EUR 25) in Southern Bulgaria.
The main buyers remain agricultural producers, who prefer to cultivate their own land rather than rented land.
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