Statistics for 2024
The value of fields has increased by up to 25%, mainly in the island regions of our country, according to Eurostat's 2023 data.
It is noteworthy that Greece is above the European Union average among the countries with the highest land sales prices. Specifically, the average price is 1,397.9 euros per hectare when the European average is 1,179.1 euros.
On this issue speak executives of the real estate market in the newspaper "Free Press". "Prices vary depending on whether the land can have commercial use or whether it is adjacent to a main road, whether it is sloping and whether or not it has trees, olives and other fruit trees, the age of the trees, as well as the production potential," they note.
The map
In Attica, farmers pay "gold" for arable land, with the average sale price reaching 8,158 euros per acre, up 5.7% compared to 2019, which was 7,716 euros, but slightly lower compared to 2022 when the price was 8,482 euros per acre.
However, the largest price increase (25.3%) in the last five years is recorded in the South Aegean, with the average price being a breath away from 7,000 euros per acre, at 6,976 euros, while in 2019 it was 5,566 euros. Indeed, and on an annual basis, the price change is 9.7% (6,358 euros).
Crete
Increased sale prices are also seen in Crete, at 2,835 euros per acre from 2,319 euros in 2019 (+22.3%), although prices are significantly lower compared to the other Aegean islands, where the cost of buying arable land is 3,000 euros per acre, an increase of 9.5% compared to 2019 (3,651 euros). Only in the North Aegean islands there is a decline in prices from 3,792 euros per hectare 5 years ago to 3,682 euros in 2023.
On the contrary, despite the fact that sales prices on the Ionian islands are very low, at 1,075 euros per hectare, they have increased by 19.1% compared to 2019, when they were only 903 euros per hectare.
On the mainland, the region with the largest increase in the sale price of arable land is Epirus (+18.8%), reaching 2,286 euros per acre from 1,923 euros five years ago, followed by Western Greece (+13.6%), where from 1,585 euros in 2019, the price rose to around 1,780 euros per acre.
Peloponnese
Significant increase of 12.5% show the prices of land in the Peloponnese from 2,273 euros to 2,559 euros, while the 11% rise in selling prices in Thessaly (1,428 euros / acre) and Central Greece (1,770 euros).
Prices of arable land also improved by 9.5% in Central Greece, which in 2023 reached 2,239 euros per hectare from 2,045 euros.
Prices in Macedonia and Northern Greece are very low compared to the rest of Greece and the European average, despite the fact that they have increased over the last five years, albeit at a single-digit rate.
In Western Macedonia, the average sale price of land is just 668 euros per hectare from 622 euros in 2019 and in Eastern Macedonia-Thrace 872 euros from 800 euros five years ago (+8.9%).
In Northern Greece, prices are 972 euros from 905 euros per acre in 2019 (+7.4%), while things are slightly better in Central Macedonia, with the average price of land at 1,069 euros from 1,022 euros in 2019.
Comments