One hectare of farm land in northern Serbian village near Rumenka sold for record 500,000 euros!

Photo montage: Pixabay, Shutterstock

A historic precedent has been on the agricultural land market in Serbia - the price per hectare (2.5 acres)  reached a figure that not many people could have imagined until just a few years ago.

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According to data from the Republic Geodetic Institute, the record price was paid in the Rumenka municipality, where one hectare sold for over 500,000 euros.

The news about this unusual sale was published on the Sremska TV Instagram account, while the number caused numerous reactions from the public, especially farmers and investors.

In addition to this individual case, the fact that the average price of arable land in the northern province of Vojvodina is now 15,900 euros per hectare is also significant, since that also represents a record level and indicates a trend of increasing demand for high-quality farm land.

This rise in the price of agricultural land is attributed to several factors - the increasing interest of investors in agricultural production, the increase in the value of domestically produced food, but also the changes in the ownership structure of land, something that has been happening rapidly in recent years.

But experts are warning that this trend could also affect small farmers, who will find it increasingly difficult to buy land, while on the other hand, owners of arable land in attractive locations can expect to  serious profit when they decide to sell.

(Telegraf Biznis)