Foreign interest boosting Polish land prices

Photo: wikipedia

“Since 2004, the price of agricultural land has been rising at a dynamic rate,” Radoslaw Brodaczewski, from Lion's House estate agents told Polish Radio.

“On average, it is at about 16.5 percent per year,” he noted.

As of 2016, EU citizens will face less red tape than previously when attempting to buy agricultural plots in Poland, and Brodaczewski predicts a rash of foreign interest.

Polish land is attractive to outsiders because it is still significantly cheaper than most EU countries.

At present, the most expensive area is the central-western Wielkopolska region, where prices are about 8500 euro per hectare. The cheapest plots can be found in the south eastern Podkarpackie region, where a hectare of land can be purchased for 3640 euro.

These prices pale in comparison with many other European countries. In Malta, where prices are the most expensive in Europe, buyers can expect to pay about 130,000 euro per hectare. In Holland, prices are about 49,000 euro per hectare, while in Great Britain, about 20,000 euro.

Brodaczewski believes that now is a good time to invest in land, prior to the 2016 watershed.

“Land will certainly not get cheaper,” he said.

“[Purchasing land] is a good idea for people who want a safe investment,” he noted, adding that falling interest rates make such an investment all the more appealing. (nh)