The prices of agricultural lands in Bulgaria are among the cheapest in European Union
The prices of agricultural lands in Bulgaria are among the cheapest in European Union, a new study shows. According to rating advisory firm “Savills”, based on Eurostat and other sources during the period 2007-2009, the prices of the agricultural land in Bulgaria has third rank among the lowest levels in the EU. Cheaper prices are only in Lithuania and Slovakia.
According to the information, the property prices in Bulgaria at the end of 2008 are on average around 170EUR per 1000sq.m.
For comparison, in Ireland, which was on first place for the same year 2008, the prices have been more than 40000EUR per hectare.
Statistic from 2000 to know shows that the prices in Romania, that for the last few years have been of fourth place, were lower than those in Bulgaria till 2006.Then the prices in our northern neighbor began to grow rapidly and till 2009 reached 3500EUR per hectare.
The prices in Bulgarian for agricultural land passed the limit of 1000EUR per hectare in 2006,but the place of growth remain much slower than all the countries in Central and Eastern Europe. The prices in Hungary are comparable to those in Romania, but the prices in Poland are the most higher in the region starting from 5000EUR per hectare at the end of 2009.
The main reasons for increases of the agricultural land prices are the agricultural subsidies and improving economies in the region since the adoption of EU countries.