The land that was once seen as simply farmland carried heavy expectations and risk. Investors treated it as a speculative bet, especially in a drought-stricken season that tested Spain’s water resources. Irrigated agricultural land received a modest revaluation last year, a point highlighted in the Tinsa report about Agricultural land in Spain 2023. Generally, ownerless land in Spain remains more of a sentimental asset than a profitable one, unless it is actively developed or leased. In many cases, the land sits idle, aside from vacancies that mirror potential projects such as wind energy installations, which promise steady income of at least 6,000 euros annually for several years. Large tracts are still valued for hunting or rural tourism, but the true exploitable value rises when land has irrigation, demonstrating how water access reshapes profitability. In times of scarcity, irrigated plots become distinctly more valuable, and improved local agricultural products help strengthen the case for revalueing the land’s use. Source: Tinsa 2023.
The pace of price updates for rural land is gradual, and experts expect ongoing concentration within the agricultural sector to support the sales of family farms. This occurs in an environment where prices for agricultural products are on the rise. Source: Tinsa 2023.
According to the Tinsa assessment, arable land prices increased in the past year, with the most pronounced gains seen in vegetables, herbs, and fruit trees when irrigation is available. In contrast, the value of dried olive groves, meadows, and pastures has faced pressure. The evaluations show that vegetable-growing greenhouses became the most valuable type of agricultural land by quantity, reaching 163,400 euros per hectare in 2023. On the lower end, meadows and pastures registered the lowest unit values, around 10,200 euros per hectare. Source: Tinsa 2023.
The revaluation trend for rural land centers on farms with reliable water access and potential crop conversions. The data indicate that the strongest performers over the last five years were dried fruit plants, which rose by about 3.4 percent, followed by irrigated crops at roughly a 2.8 percent gain. Source: Tinsa 2023.
Several key 2023 trends stand out. Slowed by global events, grain prices have remained a factor in shaping farming decisions. The Ukrainian conflict contributed to price volatility, influencing how growers approach transformation and expansion plans. The expansion of almond cultivation faced uncertainty around price trajectories, tempering growth in that segment. Source: Tinsa 2023.
The report also notes a renewed interest in stone and seed fruit trees as consumer tastes shift away from some tropical varieties. The cultivation of lemons gained traction as imports from neighboring EU economies faced new pressures, reinforcing the preference for local production and resilience against import fluctuations. Source: Tinsa 2023.