Considering building land prices in Luxembourg, it doesn’t come as a surprise that the average prices for arable land in Luxembourg are among the highest in the European Union.
19 different EU member states with available data were compared, with prices ranging from a low of €3,661 on national average in Croatia to a whopping €71,225 average price in the Netherlands. These figures represent a 20-fold difference between the lowest and highest average price.
In most EU regions, buying arable land was considered more expensive than buying permanent grassland.
The level of land prices depends on a number of regional and national factors, as well as supply and demand which also heavily influences the valuation of agricultural land.
For context: EU farms used 157 million hectares of land for agricultural production in 2020, which is about 38% of the total land area in the European Union. While the number of farms has been in steep decline, the amount of land used for production has remained steady. As for Luxembourg, agriculture has always played a huge part in the country’s economy.
