OREANDA-NEWS. February 21, 2012. The offer price of farmlands increased to an average of 8,000-9,000 euros per hectare in 2011, according to a report by the Agency for Land Relations and Cadastre.

"It is worth mentioning that the offer price is different from the real price of transactions. It can vary from 10 to 50 per cent depending on the transaction's conditions and the buyer's ability to negotiate the price", the agency said.

The agency noted that in 2010, the offer price for farmlands was estimated at 3,500 euros per hectare. The price varies depending on the type of soil, the soil's quality, relief, and region. The price of consolidated farmland covering 20 hectares and more is higher by 20-30 per cent, it noted.

According to the agency, farmlands in Chisinau were put up for sale at 18,000-20,000 euros per hectare in 2011.

Experts said few applications for farmlands were recorded over the past two to three years.

The land is expensive because the offer is small. "Try to buy farmland and you will see whether there is much free land in Moldova," Agriculture and Food Minister Vasile Bumacov said several days ago. He noted that although foreigners are prohibited by law to buy farmland in Moldova, many did it though, including Moldovan nationals as owners in the registration documents.

The LARA stock exchange noted that there is a large offer of consolidated farmland, but the demand for them is small, and potential buyers are passive.