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Monday, 24.04.2017, 10:19
Price of arable land climbs 8% in Estonia on year
Activity on the market for agricultural land was highest last year in West-Viru County, where 141 transactions with land under cultivation were concluded. In places two and three were the counties of Viljandi and Jarva with 118 transactions each.
The highest prices for arable land were registered in Jogeva County and the lowest prices in the island counties of Hiiu and Saare. The median size of a piece of agricultural land that changed hands during 2016 was 7.4 hectares, bigger than the year before.
"In recent years interest for land under cultivation has kept growing in Estonia, which is demonstrated by the fact that the price of cultivated land has grown by as much as 85.3 percent in five years," the director general of the Land Board, Tambet Tiits, said.
The number of transactions in which land under cultivation changed hands was 1,404 in 2016, 3% bigger than in 2015. The aggregate value of the transactions grew 30.4% y-o-y to 41.1 mln euros.