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Farmland Prices in France 2010-17

A review of the movement of prices for agricultural land in France since 2010 shows only modest increases in most departments.

Each year between 300,000 to 400,000 hectares of farmland in France changes hands, around 2% of the total agricultural surface, excluding vineyards.

The market is worth between €3 billion and €4 billion a year, but it is small in terms of transaction value, with around two-thirds of the each sale worth less than €10K.

Most of the sales are to tenant farmers already installed on the land, whose interests are keenly protected by SAFER, the rural land agency, both of whom benefit from a right of pre-emption.

Although there is a growing concentration of agricultural land among fewer owners (the average size of a farm now stands at 56 hectares, compared to 28 hectares 30 years ago), around two-thirds of farmland is still owned by individual farmers. A rationalisation of sorts is being obtained by greater collaboration between farmers in the marketing and sale of their produce.

Around 20% of sales of non-tenanted land is to non-agricultural buyers, most of whom are investors who seek a change of planning use on the land or who simply rent the land for continued agricultural use.

Although over the past few years there have been modest rises in prices (0.4% in 2016, 1.5% in 2015), last year prices fell for the first time since 1996, by 0.8%.

The average price is now €5,990/hectare for untenanted land, excluding vineyards. By comparison, the average price of farmland in the UK is over €20K/hectare.

As in the UK, there are significant variations in prices across the country, rising from an average of €2,190/ha in the department of Jura (Bourgogne-Franche-Comté) to a peak of €17,700/ha in the Bouches-du-Rhône (Provence-Alpes-Côte d'Azur).

At a regional level, the most expensive region for farmland in France is around the Parisian Basin, and in the departments of Bouches-du-Rhône and Nord-Pas-de-Calais.

Lowest average prices are in the Bourgogne-Franche-Comté region and Pay de la Loire, regions where there is a high concentration of land for grazing of livestock.

Over the past 20 years prices have increased on average by a relatively modest 50%, ex inflation. That compares with an increase of around 400% in the UK over the same period.

The table below shows the average prices in each department for 2010 and 2017. The figures are for untenanted land and exclude vineyards.

Prices within departments are by no means uniform, with sometimes significant variations between different areas, so the information should only be used as a general guide.



Agricultural Land Prices/HA 2010-17
Region/Dept
Average 2010Average 2017
AUVERGNE-RHONE-ALPES
Ain €3,310€3,740
Allier €3,520
€4,060
Ardèche €5,200€4,440
Cantal €6,090€6,160
Drôme €6,340€7,510
Isère €5,950€4,570
Haute-Loire €3,350€4,060
Loire €3,530€3,570
Puy-de-Dôme€3,590€4,230
Rhône €5,040€4,280
Haute-Savoie €9,250€7,920
Savoie€6,310€4,380
BOURGOGNE FRANCHE-COMTE
Belfort
€3,500€3,840
Côte-d'Or€2,690€3,190
Doubs
€2,430€2,580
Haute-Saône€2,320€2,600
Jura
€2,100€2,190
Nièvre€2,770€2,970
Saône-et-Loire€2,350€2,360
Yonne
€3,180€3,530
BRITTANY
Côte d'Amour€4,040€5,180
Finistère€4,240€4,950
IIe-et-Vilaine €4,290€4,890
Morbihan
€3,270€4,630
CENTRE-VAL DE LOIRE
Cher
€3,740€4,580
Eure-et-Loir
€4,640€6,140
Indre
€3,170€4,060
Indre-et-Loire
€2,930€3,860
Loir-et-Cher
€3,330€3,650
Loiret
€4,360€5,090
GRAND EST
Ardennes
€5,150€6,390
Aube
€7,650€9,660
Haute-Marne
€2,780€3,430
Marne
€7,590€10,370
Meurthe-et-Moselle
€3,800€4,800
Meuse
€3,910€5,540
Moselle
€4,360€4,820
Bas-Rhin
€6,130€6,930
Haut-Rhin
€6,600€7,070
Vosges
€3,380€3,410
HAUTS DE FRANCE
Aisne €6,660€8,820
Nord €9,090€13,080
Oise €6,670€8,850
Pas-de-Calais€9,380€12,470
Somme €7,470€9,380
ILE-DE-FRANCE
Parisn/a
n/a
Seine-Saint-Denisn/an/a
Haute-de-Seinen/an/a
Val-et-Marne n/an/a
Val d'Oise €8,120€8,790
Yvelines€7,300€9,780
Essonne €7,480€10,540
Seine-et-Marne€6,160€7,300
NORMANDY
Calvados
€6,730
€8,460
Manche
€5,710
€7,300
Orne
€4,890
€6,910
Eure
€7,000
€9,030
Seine-Maritime
€7,910
€10,140
NOUVELLE-AQUITAINE
Charente €3,610€4,230
Charente-Maritime €3,960€5,100
Corrèze €3,930€3,500
Creuse
€2,560€2,750
Deux-Sèvres€2,800€3,300
Dordogne€4,160€4,670
Gironde
€4,900€6,320
Landes€7,190€9,060
Lot-et-Garonne€5,150€7,900
Pyrénées-Atlantiques€6,760€8,080
Haute-Vienne
€2,980€5,020
Vienne
€3,550€5,020
OCCITANIE
Ariège€4,200€5,150
Aude
€6,450
€6,810
Aveyron€6,470
€7,220
Gard
€ 8,810
€9,870
Gers
€5,020€7,360
Haute-Garonne
€5,640€7,810
Hautes-Pyrénées
€5,560
€7,650
Hérault
€7,790
€8,230
Lot
€5,010
€5,580
Lozère
€4,140
€3,470
Pyrénées-Orientales
€9,740
€8,780
Tarn
€5,110€6,270
Tarn-et-Garonne
€4,840
€6,710
PAYS DE LA LOIRE
Loire-Atlantique
€2,270
€2,400
Maine-et-Loire
€2,870
€3,230
Mayenne
€5,200
€6,120
Sarthe
€3,680€4,250
Vendée
€2,490
€2,740
PROVENCE-ALPES-COTE D'AZUR
Alpes-de-Haute-Provence
€6,660
€5,940
Alpes-Maritimes
NS
NS
Bouches-du-Rhône
€16,740
€17,700
Hautes-Alpes€11,700
€7,080
Var
€16,250
€13,210
Vaucluse
€12,990
€14,580

Source: Terres d’Europe-Scafr, Safer and SSP

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This article was featured in our Newsletter dated 07/08/2018





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