Agricultural land prices in Bulgaria are falling for the first time

The average price of agricultural land transactions in Bulgaria declined in 2025. This is the first time this has happened since the National Statistical Institute (NSI) began tracking the sector (excluding the pandemic year of 2020). The average price of arable land nationwide is 1,648 BGN/dekar (842.6 EUR/dekar), which is 3.3% lower than in 2024. Permanent grassland (natural and artificial meadows, pastures, and grazing lands) has also become cheaper – down to 284 BGN per decare (145.2 EUR per decare), which is 4% lower year-over-year.

A decline in the prices of arable land transactions compared to 2024 was observed in four of the country’s six statistical regions: Although the Northeast region recorded the largest decline, average prices for arable land remain the highest there.

• North Central – 1,726 BGN/dekar (a 2.4% decline);
• Northeast – 2,092 BGN/dekar (a 9.5% decline);
• Southeast – 1,506 BGN/dekar (a 7.6% decline);
• Southwestern – 1,099 BGN/dekar (a 2.3% decline).

Price increases were recorded in the Northwest and South Central regions – by 4.1% and 6.8%, respectively.

As a result of the effects of the war in Ukraine, prices literally skyrocketed in 2022 and 2023, doubling. “The market is currently cooling down,” commented Radoslav Manolov, CEO of Advance Terrafund REIT, in an interview with Bloomberg TV.

Decline in Rent

The price paid to rent one decare of farmland has declined compared to the previous year in all regions. Nationwide, the rent per decare of agricultural land was 58 BGN (29.7 euros) in 2024, while in 2025 it was 51 BGN (26 euros). The most significant decrease was again recorded in the Northeast region – 15.2% lower than in 2024. Nevertheless, this region has the highest rental price for agricultural land – 67 BGN (34.3 EUR) per decare for 2025. The average price in the Southwest region saw the smallest decline – 6.1%.

The market slowdown is also evident in agricultural land rents in Bulgaria. Rents used to range from 35 – 40 to 50 euros per decare; now they are 25 – 30 euros per decare. There are places where rents have fallen by up to 50%, but in most cases the decline is around 20%,” added Manolov.

Translated with DeepL.