Agricultural Land Prices in France for 2009
Thursday 30 September 2010
The price of agricultural land fell by an average of 1.6% in 2009 to €5,090 per hectare, but there were substantial variations between regions.
Thus, in the Nord Pas de Calais, agricultural land prices actually rose by 15%! Biggest fall was in Franche Comté, where prices fell by 6%.
Cheapest region to buy agricultural land was the Pays de Loire (€3,120) followed by Limousin (€3,310). Highest prices were to be found in Corsica (€19,290) and Provence Cote d'Azur (€13,480).
Within regions the price of land varies considerably, so the above figures should only be used as an approximate guide.
Those of you seeking to buy adjoining agricultural land for domestic use are also likely to find that the local famer will be seeking a substantially higher price than those shown here, although it will clearly depend on your relationship with the farmer!
This is the first year since 1995 that prices have fallen, in large measure because of the lack of activity in the market.
It may also be a reaction to the 12.3% increase in prices that occurred in 2008 following the substantial increase in crop prices. However, prices are still only 53% of their level in the peak year of 1974.
Those prices paid by buyers outside of the farming sector remained fairly stable at €5,301 per hectare, around 14% lower than the record prices paid in 2005. Farmers paid an average of €4,910 per hectare.
The figures come from SAFER (Société d'aménagement foncier et d'établissement rural), the French national rural land agency.
The authors state that there were indications that prices and activity started to move upwards again in the early part of 2010.
|Agricultural Prices 2009|
|Regions||2009 Prices||Change 2008/2009|
|Lower Normandy||€5,200||2 %|
|Midi Pyrénées||€ 5,400||0 %|
|Nord Pas de Calais||€9,110||15 %|
|Pays de la Loire||€3,120||4 %|
|Poitou Charentes||€3,480||0 %|
|Provence Alps Cote d'Azur||€13,340||2 %|
|Upper Normandy||€7,290||3 %|
This article was featured in our Newsletter dated 30/09/2010