How much does a hectare of farmland cost? It varies with location and crop type. Eurostat places Spain among the EU’s top ten most expensive countries for buying farmland. Across the country, the average price is just over 10,000 euros per hectare. Nearby, Denmark, Slovenia, Ireland, Italy, Luxembourg, and the Netherlands sit above Spain in cost. This may explain why some mutual funds invest in rustic properties. Sales extend to a maximum of 15 years, and large investors are active in Spain and Portugal, where prices are generally more affordable than in regions such as California or Australia.
Rice fields in Sueca are a notable example. In this context, irrigated plots command higher prices than rain-fed ones, and vegetable greenhouses, citrus groves, and vineyards tend to be among the priciest. Rustic plots appeal to long-term investors seeking stability, and financial advisors often highlight them as a component of a diversified legacy that balances financial and real estate assets.
Valencia is frequently cited as an expensive area for citrus and vegetable land. The value of such plots reflects broader market dynamics and regional differences. In general, Valencia and nearby communities show higher prices for citrus cultivation compared to more extensive estates in Murcia or Andalusia. The study of land values over time illustrates how investment attractiveness has shifted with farm size, operating costs, and the overall agricultural structure within each region.
During the pandemic years, land prices in Spain showed limited movement. While the housing market drove much of the real estate surge, rural land did not experience the same rapid ascent. The period from 2011 to 2020 saw farmland prices rise by around 4.6% overall. More recently, the Land Price Survey reported a modest annual increase, with average farmland prices hovering near 10,000 to 10,200 euros per hectare in current terms.
From a 2021 viewpoint, a Ministry of Agriculture report highlighted differences between citrus plots in the Valencian Community and those in Andalusia and Murcia. Greater investment appeal over the previous decade has come from larger properties and lower operating costs. For example, one hectare planted with oranges, mandarins, lemons, or grapefruits in Valencia averages about 36,173 euros, slightly down from the prior year. By contrast, Murcia registered about 68,604 euros per hectare and Andalusia around 45,802 euros per hectare, reflecting regional disparities in profitability and scale.
Fiscal year 2021 showed stagnant values overall, though Valencia’s citrus farms benefited from the rebound in agricultural values after the worst of the pandemic. Market data suggest ongoing challenges, including limited profitability across many Valencian farms, aging workforces, and relatively low investment in technology. Critics point to high costs, small estate sizes, and gaps in the value chain as factors constraining price growth in the region.
Beyond the Canary Islands and the Balearic Islands, which reported notably higher values per hectare, the Community of Valencia sits mid-pack. Valencia’s rural land value is reported around 19,149 euros per hectare in that period.
Vineyards, Rioja leader
Looking beyond continental Spain, the Basque Country and La Rioja host the priciest vineyard land on the Peninsula. The Basque viticulture area recorded about 47,859 euros per hectare in 2021, a small decrease from 2020, while La Rioja reached about 41,315 euros per hectare, up about 1% from the previous year. Valencia’s vineyards stood at roughly 8,453 euros per hectare, modestly higher than the year before but far below northern regions. In Catalonia, a hub for cava, land valued around 20,052 euros per hectare, down about 3.7% from the prior year.
Rice plots demand around 31,176 euros per hectare, with olive groves averaging about 23,228 euros per hectare. Extremadura showed a notable rise of 7,869 euros per hectare (+3.8%), while Andalusia and Castilla-La Mancha faced declines, at roughly 26,810 euros and 8,914 euros per hectare respectively.
Tomato cultivation remains costly, especially for irrigated open-field vegetables at about 36,175 euros per hectare. The most expensive category is vegetables grown in irrigated greenhouses, valued at around 216,085 euros per hectare in 2021, just edging up from the previous year.
And then there is land abandonment. The region leads in unused farmland, with about 162,902 hectares idle, followed by Castilla-La Mancha, Castilla y León, Andalusia, and Aragón, though their total areas are larger. Spain as a whole reports roughly 1,027,534 barren hectares.