Farmland prices in Romania differ from region to region. They range from EUR2,600-EUR2,900 per hectare in northeastern and southeastern Romania to EUR3,500-EUR3,600 per hectare in southern and western regions, the survey reads.
According to a similar DTZ survey presented in February last year, farmland prices in Romania were at EUR1,500-EUR1,600 per hectare in NE and SE, and at about EUR2,200-EUR2,700/hectare in southern Romania and near capital Bucharest.
About two years ago, average farmland prices in Romania were estimated at EUR1,972/hectare.
The country has about 14.7 million hectares of farmland, of which 10 million hectares of arable land, 3.3 million hectares of pasture, 220,000 hectares of vineyard and 206,000 hectares of orchards.
“The average prices of farmland have almost tripled since 2007 and there is no sign they will fall, considering the country will liberalize its land market starting 2014. Despite rising prices, farmland in Romania has remained attractive to both Romanians and foreigners,” the report reads.
DTZ expects average farmland prices to increase to EUR3,500-EUR4,000/hectare by 2015.