In the northern provinces, the average agricultural land price will increase in the first quarter of 2024. While there has been an increase of more than 1 percent in Groningen, the increase in Drenthe is almost 4 percent. In Flevoland the average land price is 3 percent higher. This is evident from figures from the Land Registry and the WUR.
In Friesland, the average land price in the first quarter of 2024 is 60,800 euros per hectare. An average of 70,500 euros must be paid for one hectare of agricultural land in the province of Groningen and in Drenthe this is 74,600 euros. The average land price is by far the highest in Flevoland: an average of 182,700 euros per hectare.
The relative land mobility – the traded area compared to the total area of agricultural land – over the last four quarters remained the same in Friesland (1.2 percent) compared to last year. In Drenthe, relative land mobility fell by 0.3 percentage points to 1.5 percent, making it one of the provinces where relative land mobility fell the most compared to the previous year. In Groningen there has been a decrease of 0.1 percentage point (to 1.3 percent) and in Flevoland there has been an increase of 0.1 percentage point (to 1.5 percent).
Nationwide
The average agricultural land price in the Netherlands is 4.4 percent lower in the first quarter of 2024 compared to the fourth quarter of 2023. While the average agricultural land price was 82,400 euros in the fourth quarter of 2023, this is in the first quarter of 2024. amounted to 78,800 euros. This is exactly the same as the average land price for the whole of 2023.
The national agricultural land price showed a decline in the first quarter of this year, while the land price has risen in most provinces. ‘The reason is that the provincial quarterly prices are calculated as the moving average over four quarters, while the national quarterly price is the actual price of the quarter. The provincial moving average is therefore slightly lagging behind the national quarterly price development’, the Land Registry and WUR indicate.
Grassland
The average price of grassland increased by 2.9 percent in the first quarter of 2024. The price amounts to an average of 73,300 euros per hectare. That is 5.6 percent above the average price of grassland in 2023 of 69,400 euros per hectare. The average price of silage maize land in the first quarter was 79,200 euros, a decrease of 1.4 percent.
Arable land
The average land price for arable land also shows a decrease in the first quarter of 2024 and amounts to 88,700 euros per hectare. That is 2.4 percent below the average price of arable land for the whole of 2023 of 90,900 per hectare.
