The value of the index is normalised with the average for the year 2000, i.e. the average index value in 2000 is 100.
From a value of 100 points in the base year, FHB Agricultural Land Price Index has climbed to 190.2 points by the end of the first quarter of 2010. The rate of the rise has reached more than 90% over the last 10 years, although its dynamics have been varying from period to period. It can be stated, however, that the price of agricultural land has been ascending without significant corrections in the last 10 years. Even the crisis could not disturb the 90% rise of the last decade.
In Hungary, the average price for agricultural land in the middle of 2010 was 472 000 HUF/hectare. Considering the significant differences by the way of use – one’s price can be two and a half times higher than the other’s –, the meaning of such an average price is consequently limited. In 2009, average price of arable land per hectare was HUF 576 000.
To learn more about the history of the Hungarian land market, the differences by region or land type, and also for an outlook on the intenational land market, see our public issue.
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