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Agricultural land prices, rents in Bulgaria rise in 2014

Xinhua, April 14, 2015 Adjust font size:

In 2014, the average agricultural land prices and rents in Bulgaria rose year-on-year by 15.2 percent and 7.9 percent respectively, the National Statistical Institute (NSI) said Tuesday.

The average price per decare of agricultural land reached 684 BGN (377 U.S. dollars) in 2014, NSI said.

The main driver of the increase was the price of vineyards which surged by 41.4 percent, while the prices of the permanent grassland, arable land and orchards rose by 24.2 percent, 14.0 percent and 1.6 percent respectively, NSI data showed.

In turn, the average rent price per decare hired or leased agricultural land in 2014 reached 41 BGN.

In comparison to the previous year, the rent price for orchards rose by 16.7 percent, followed by arable land with 10.3 percent, and permanent grassland with 6.3 percent.

"Amongst the observed land use categories, only for vineyards decrease by 29.4 percent was registered," NSI said. (1 BGN = 0.55 U.S. dollar) Endit