Agricultural land prices fall in Estonia amid lack of large deals
Agricultural land prices dropped by an average of 9.7 percent in 2025 due to a lack of large transactions, according to Statistics Estonia.
The average price of agricultural land was €6,122 per hectare, with grassland at €4,861 and arable land at €6,377. The most expensive agricultural land was in Tartu County at €7,265 per hectare, followed by Jõgeva County at €6,840 and Võru County at €6,833. Hiiu County had the cheapest land at €3,950 per hectare.
"We should not be misled by the price drop because there is very little land for sale, and when a larger investor starts buying land, they usually do it in larger chunks and transactions are carried out at a price higher than the market price. There were no such large transactions in 2025," Bigbank Chief Economist Raul Eamets explained.
Larger transactions took place in 2024, which brought the average price of agricultural land in Estonia to €6,782 per hectare at the time.
"In economic terms, we have a buyers' market that determines the price. If there are currently no buyers in the market willing to pay a premium to enter a transaction, then paradoxically the average price falls. Nobody wants to sell at market price. As is well known, no more land is being made," Eamets added.
For example, six years ago, a hectare of agricultural land cost €3,630 in Estonia, meaning prices have grown by 69 percent since then. The price of agricultural land has increased the most in Ida-Viru County (83 percent) and Saare County (80 percent), and the least in Hiiu County (38 percent) and Harju County (44 percent).
In 2010, a hectare of agricultural land in Estonia cost €998.
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Editor: Argo Ideon
