Farms worth EUR 7,000 per hectare – Agricultural land in Zrenjanin maintains price level

Agricultural land in Zrenjanin and the neighboring villages is maintaining its price, even though those who trade in farms say that the price of land is slightly lower and the offer slightly bigger than half a year ago.

The average price per hectare ranges between EUR 7,000 and 10,000 and depends on the quality of land, how close the fields are to the road, the size of the field etc.

This is confirmed by an add for the sale of two fields on the outskirts of the city, with two strips of land each, of the same class, with one strip costing EUR 5,500 in one field and EUR 7,000 in the other. The slightly increased offer and the slight drop in prices of land have probably been caused by the fact that farms are sold through court procedures or by banks increasingly more often, in line with the Mortgage Law.

For example, the Basic Court of Zrenjanin has put a two and a half hectare field in Botos up on sale at the estimated price of RSD 1.5 million, with the starting price being RSD 920,000.

It's already known that the fields will be sold at a price much higher than not just than the starting price, but also the estimated price. A recent example of a sale through a court procedure is the sale of fields owned by the agricultural cooperative Mladenova Krajina from Cestereg. Following a long and uncertain bidding process, the land was bought by a farmer from Cestereg at the price of nearly EUR 7,500 – nearly double the estimated value of a hectare in the Banat village at the time.