Rising Costs: Bulgarian Agricultural Land Prices Increase by 27.9%

The price of agricultural land in Bulgaria continues to rise. Currently, the cost of leasing agricultural land in the country averages 313 euros per square meter annually. This marks a notable increase from 2021, when the price was 260 euros per square meter per year, reflecting a 17% increase.

Recent data from the Capital Statistics Bureau reveals that in 2023, the average rental price per square meter in the Dobrich region has reached 105 leva, which is a 16% decrease compared to 2022. However, compared to the original price of 62 leva per square meter, this new rate represents a 69.3% increase. Last year, the average price for agricultural fields in the Dobrich region was 3,623 leva per decare, marking a 27.9% rise from the previous year.

The highest land prices in 2023 were recorded in the municipality of Dobrich-Central, reaching 4,404 лежа per square meter, which is 30.8% higher than the previous year. Similarly, in General Toshevo municipality, prices increased by 19.3% from the previous year. The initial price for land in Dobrich in 2023 is 1,607 leva per decare, representing a 125.4% increase from the previous rate. This year's data also show a 27.8% rise in the initial price of agricultural land compared to the previous year, maintaining the highest price levels in the country.

In the municipality of Tepel, the rent for land is 93 leva per decare. Analysts from Moitri report that agricultural and long-term assets generally retain their value well, especially in times of high inflation. Historically, land has proven to be a strong asset for preserving capital, often outperforming real estate.